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03-09-2015

Armacell Acquires Industrial Thermo Polymers

Armacell, a global specialist in flexible insulation foams for the equipment insulation market and a provider of engineered foams, has signed a purchase agreement for the business of Industrial Thermo Polymers Limited (ITP), a manufacturer of extruded polyethylene foam products in North America. This transaction significantly strengthens Armacell’s market position and footprint in North America – especially in the pipe insulation business. The closing is expected mid of March.

“All of the product segments that ITP is active in – such as pipe insulation, backer rods and water toys – exhibit strong growth rates. The predicted rebound of the overall US construction market and the strengthening of the US dollar, which both have a significant impact on the company´s sales, make ITP an attractive investment for us", explains Patrick Mathieu, CEO of Armacell International S.A., Luxemburg.

ITP, which was founded in 1980 and maintains headquarters in Ontario, Canada, is a leading manufacturer of extruded polyethylene foam products in North America. 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. In 2014, it generated revenue of approx. CD 30 million.

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ARMACELL GmbH

Robert-Bosch-Straße 10
DE 48153 Münster
Tel.: 0251 7603574
Fax: 0251 7603505

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