Armacell (Luxembourg; www.armacell.com) has reported an increase in revenue of 13.7% to EUR 313.8m in the first half of 2017, while EBITDA rose by 9% to EUR 51.3m (H1 2016: EUR 47.1m). According to the flexible insulation foams manufacturer, this growth was driven by both business divisions and respective regions, despite the volatile macroeconomic environment, rising geopolitical tensions as well as increasing commodity prices.

With the opening of a new production plant in Brampton, Ontario / Canada at the beginning of 2017, the company’s PET production capacities in North America were further developed. Due to strong demand in Asia, Armacell is also examining a possible expansion of its PET foam production in China. Not long ago, South Korean authorities granted Armacell access to public projects, providing yet another pillar for sustainable growth in the region.

According to the company, it aims to continue its global M&A strategy. Recent acquisitions include the extruded PE insulation materials division of Nomaco (Zebulon, North Carolina / USA; www.nomaco.com – see Plasteurope.com of 12.01.2017) and Danmat Iso Systems (Ølstykke / Denmark; www.danmat.dk). The Scandinavian company produces PVC cladding systems, PVC films and tapes, as well as pipe supports (see Plasteurope.com of 17.03.2017).

“The integration of our recently acquired businesses is on track and we are certain that our M&A activity will continue to drive significant synergies into the year and beyond 2017,” says Norman Rafael, Armacell’s vice president of Corporate Development and Investor Relations.