Armacell Strengthens Commitment in Korea
Armacell International Holding GmbH, Münster, Germany, a leading manufacturer of flexible technical insulation materials, is intensifying its business activities in South Korea. Having successfully set up its own production facilities in Cheonan, Armacell is now taking over Armatech Co., Ltd, a supplier of technical insulation materials for the HVAC/R industry.
The acquisition is a further demonstration of Armacell’s growth in this highly technical market segment. The takeover will provide the company with the resources and technology in Korea to develop high-quality system solutions for the building industry.
Armacell is a manufacturer of engineered foams and the world leader in the market for flexible technical insulation materials. In the financial year 2013, the company generated an annual turnover of 500 million euros. The group employs around 2,500 people and has 20 factories in 13 countries.
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