Owens Corning Acquires Spray Polyurethane Foam Manufacturer Natural Polymers
Views：933 Updated：2022-06-23
On June 21, 2022, Owens Corning announced that it has signed an agreement to acquire Natural Polymers, Inc. of Kirtland, Illinois, a manufacturer of innovative spray polyurethane foam insulation for construction. The transaction is subject to regulatory approvals and other customary conditions and is expected to close in the third quarter.
"This acquisition advances Owens Corning's strategy to strengthen our core building and construction products and expand our target markets into higher growth areas," said Todd Fister, president of Owens Corning's Insulation business. Proven technology enables us to offer our customers a more diverse insulation portfolio and reinforces our commitment to providing long-term, sustainable solutions."
Natural Polymers is committed to developing high-quality products and systems that offer the lowest volatile organic compounds in the spray foam industry today. Many of the company's products are certified GREENGUARD Gold by Underwriters Laboratories—a third-party standard designed to help reduce indoor air pollution and chemical exposure risks.
Todd Fister said: “Over the past few years, we have seen many advancements throughout the spray foam industry, from standardized installer training to product improvements, making this material an even more attractive solution. Natural Polymers’ commitment to product development This focus provides Owens Corning with a foundation upon which we can leverage our materials science knowledge to drive innovation and differentiate our business."
Natural Polymers expects to achieve sales of about $100 million by 2022. The business has demonstrated a strong track record of above-market growth and is expected to continue delivering double-digit growth over the next few years.
Benjamin Brown, President and CEO of Natural Polymers, said: "I am excited about this transaction and believe that Owens Corning is best positioned to accelerate business growth, benefit our customers and support our vision of creating the best spray polyurethane foam brand in the world. In the industry. All in all, I believe we have the best people, technology and capabilities.”
Following the closing of the transaction, Mr. Benjamin Brown will join Owens Corning in an innovation leadership role.
Financial terms of the deal were not disclosed.
