Following record results in 2015, flexible insulation foams producer Armacell (Luxembourg; www.armacell.com) increased its 2016 revenues by 3.4% to EUR 558.6m. Despite a challenging macroeconomic environment, sales growth was generated across all business units. Volume growth outpaced sales with an increase of around 6% compared to the previous year. Adverse currency effects impacted revenues by 1.5%. In 2016, EBITDA excluding non-recurring items was EUR 100.4m, an increase of 5.1% over 2015. Adjusted EBITDA rose by 4.7% to EUR 82.5m.

In 2016, Armacell delivered on its strategic plan to enhance its international presence as well as to increase its customer service level globally. Its integration of recent acquisitions both in traditional and new foreign markets is on track. Recently, Armacell acquired the Danish PVC insulation producer Danmat Iso Systems (Ølstykke; www.danmat.dk) for an undisclosed sum (see Plasteurope.com of 17.03.2017).

Expanding its production footprint in the Americas, Armacell, which is held by private equity funds managed by Blackstone (New York / USA; www.blackstone.com) and Kirkbi (Billund / Denmark; www.kirkbi.com) since the beginning of 2016 (see Plasteurope.com of 05.01.2016), acquired the insulation business of US custom engineered foam specialist Nomaco (Zebulon, North Carolina; www.nomaco.com) – see Plasteurope.com of 12.01.2017. In October 2016, Armacell acquired Brazilian extruded PE insulation foams producer PoliPex (Florianopolis; www.polipex.com.br) – see Plasteurope.com of 20.10.2016.

In Asia, a joint venture was established with Jios Aerogel (Osan-si, Gyeonggi-do / South Korea; www.jiosaerogel.com) to develop silica aerogel blankets (see Plasteurope.com of 28.11.2016).