Armacell : Armacell and AIS establish joint venture for insulation jackets

EQS-Media / 19.06.2023 / 12:24 CET/CEST

Press release

Armacell and AIS establish joint venture for insulation jackets

• Manufacturing of insulation jackets in Yukon (OK) to be sold exclusively in the USA
• ‘Made in USA’ coupled with AIS design and Armacell production expertise
• Insulation jackets designed to significantly reduce energy losses

Luxembourg, Broussard (LA), 19 June 2023 – Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, together with AIS, a global leader in the engineering, manufacture and application of insulation and passive fire protection systems, has established a joint venture for the manufacturing of insulation jackets in the USA. Armacell AIS, LLC will be operating from Armacell’s existing facility in Yukon (OK).

Armacell and AIS are leading global manufacturers with various complementary areas of expertise. The joint venture will manufacture and sell thermal insulation jackets for the U.S. HVAC market as well as acoustic and passive fire protection jackets.

“Both companies have a long project track record in the insulation and energy conservation industries. We offer a local presence in the USA in terms of facilities, management and business development. ‘Made in USA’ coupled with AIS design and Armacell production expertise will make our JV valuable to regional clients”, says Ciro Ahumada, Armacell’s Vice President AMERICAS.

Founded in 2007, AIS is a global leader in the engineering, manufacture and application of insulation and passive fire protection systems, as well as buoyancy and SURF (subsea, umbilicals, risers and flowlines) products. The advanced materials of AIS deliver mission-critical solutions for the energy, industrial, automotive, chemical and marine sectors.

“By combining our technology with Armacell’s expertise in industrial efficiency and world-class manufacturing capabilities, we are confident that this partnership will provide our customers with state-of-the-art jacketing solutions”, adds Andrew Bennion, Managing Director at AIS.

The parties have agreed to remain silent on the commercial terms of the deal.

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About Armacell

As the inventor of flexible foam for equipment insulation and a leading provider of engineered foams, Armacell develops innovative and safe thermal and mechanical solutions that create sustainable value for its customers. Armacell's products significantly contribute to global energy efficiency making a difference around the world every day. With more than 3,300 employees and 27 production plants in 19 countries, the company operates two main businesses, Advanced Insulation and Engineered Foams, and generated net sales of EUR 806 million and an adjusted EBITDA of EUR 121 million in 2022. Armacell focuses on insulation materials for technical equipment, high-performance foams for acoustic and lightweight applications, recycled PET products, next-generation aerogel technology and passive fire protection systems.

For more information, please visit: www.armacell.com

Media & Investor Contact

Tom Anen

Director Corporate Communications & Investor Relations

+352 2484 9828

press@armacell.com

End of Media Release

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