TechnoNICOL closed the acquisition of 100% shares owned by JSC ZNOiM, a stone wool producer, part of IZOVOL Group of Companies. The deal was announced on the corporation’s website.
Vladimir Markov, the general director of TechnoNICOL commented that Belgorod-located plant would enable the company to optimize the logistics processes, while also shortening the delivery time. It will also improve company positions in the thermal insulation market in the Central Federal District.
On October 12th 2017, the Federal Antimonopoly Service approved the deal and on March 27th Belgorod enterprise became the 8th TechnoNICOL plant specialized in mineral insulation. Annual production capacity is 1,5 million cubic meters and the company will still be producing goods under IZOVOL brand. The total volume of mineral thermal insulation in TechnoNICOL will be more than 11 million cubic meters.