Steico AG has underlined its intentions in the ecological insulation materials market by acquiring French wood fibre insulation manufacturer Isoroy Casteljaloux SAS for an undisclosed sum.
Isoroy Casteljaloux, which has 80 employees and recorded a turnover of €15.3m in 2007, produces a range of wet method wood fibre insulation materials on a 34ha site.
Steico said the acquisition would give it new channels on the fast-growing French market, as well as in Spain and Portugal. It also believes close proximity to the market will optimise sales and logistics, cutting lead times.
Steico intends a “wide-ranging” capacity expansion of the Isoroy site to optimise production and slash costs.
