Armacell buys Chinese insulation firm
2nd June 2018LUXEMBOURG: Insulation manufacturer Armacell has acquired Chinese manufacturer De Xu (Guangdong De Xu Insulation Materials Co Ltd).
De Xu produces flexible elastomeric foam under the Sinoflex brand, operating from its Yingde facility in the province of Guangdong in Southern China.
Established in 2013, De Xu provides a comprehensive range of products for major construction projects in Southern China, including elastomeric insulation for HVAC as well as heating & plumbing and refrigeration systems.
Commenting on the transaction, Patrick Mathieu, president and CEO of the Armacell Group, said: “The acquisition of De Xu and the Sinoflex brand reinforces our capacity to cover local market demand and adds additional production potential in our second fastest growing market in the Asia Pacific region.”
The transaction includes two production lines in De Xu’s production site in Yingde, Guangdong, and the intellectual property of Sinoflex. De Xu has 40 employees and is located in proximity to Armacell’s manufacturing facilities in Panyu.
