ROCKWOOL subsidiary to build basalt insulation manufacturing facility in USA

Construction of the basalt insulation manufacturing facility is expected to begin in October this year, with initial production of ROCKWOOL’s basalt insulation slated to begin in the first quarter of 2020. A total investment is estimated at over $150 million.

ROXUL Inc., the US part of ROCKWOOL International will build a new manufacturing facility. It will be located in Jefferson County, West Virginia and employ around 150 local people. ROCKWOOL Group has existing manufacturing sites in Mississippi as well as Canadian Ontario and British Columbia. Subsidiary Rockfon recently began to produce acoustic ceiling tile in the USA.

ROCKWOOL Group President and CEO Jens Birgersson comments that this new factory will play a major role in ensuring the growing customer demand for non-combustible stone wool insulation. The company expects to continue double-digit growth in the United States due to this new factory.

This announcement is a follow-up on the ROCKWOOL Group’s February 2017 statement announcing its intention to purchase land for capacity expansion in the United States, Sweden, and Romania.

Another multinational manufacturing company Saint-Gobain has recently announced the decision to retain only basalt thermal insulation line at their Romania-located factory.

The demand for stone wool insulation materials is growing even in those regions where the overall mineral wool insulation market has shown negative dynamics. The analysts forecast that mineral wool sales volume to grow at almost 7% CAGR in a period to 2022.

Companies: Saint-Gobain

Countries: Romania, Sweden, USA

Industries: Construction, Finance & Investment

Terms: Investment

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