Armacell acquires Industrial Thermo Polymers Limited (ITP)

Armacell is a world leader in flexible insulation foams for the equipment insulation with net sales of € 415.7 million in 2013.
Armacell is a world leader in flexible insulation foams for the equipment insulation with net sales of € 415.7 million in 2013.

Armacell, producer of insulation and engineered foams for the equipment insulation market, acquires the business of Industrial Thermo Polymers Limited (ITP) from Ontario. ITP is the leading manufacturer of extruded polyethylene insulation products in North America. In 2014, the company generated revenue of approx. 30 million Canadian dollar.

The transaction strengthens Armacell’s market position in North America, making it the leading supplier of polyethylene insulation foams in Canada.

Under the brand name “Tundra”, ITP manufactures products for a broad range of applications, including standard and self-sealing pipe insulation, insulating foam filler and water toys. Patrick Mathieu, CEO of Armacell International S.A., explains: “All of the product segments that ITP is active in exhibit strong growth rates. The predicted rebound of the overall U.S  construction market and the strengthening of the U.S. dollar make ITP an attractive investment for us.”

Janina Ottma

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