Recticel (Brussels / Belgium; www.recticel.com) has sold its 50% stake in Kingspan Tarec Industrial Insulation (KTII) to its joint venture partner Kingspan Group (Kingscourt / Ireland; www.kingspan.com) for EUR 8.5m. KTTI was established in 2006 (see Plasteurope.com of 02.02.2006), when the two companies decided to combine their industrial insulation activities. The company develops and produces insulation products for thermal insulation of pipework and petrochemical applications as well as the cool truck industry. KTTI has sites in Turnhout / Belgium as well as Glossop / UK and posted sales of about EUR 31m in 2014.

Recticel said the divestiture would allow it to focus on its building insulation activities. The Belgian PU processor issued a profit warning earlier this year, saying it expects its 2014 operating profit (REBITDA) to fall by around 12% year-on-year due to rising polyol prices, among others – for details, see Plasteurope.com of 08.01.2015.