Global plastics group Ravago has bought seven insulation production lines from Dow Building Solutions and signed a licence agreement to continue to use the Xenergy, Floormate and Perimate trademark names. The UK arm will be known as Ravago Building Solutions.
Ravago’s move to buy the extruded polystyrene (XPS) insulation production plants across EMEA and acquire the technology from DowDuPont Inc makes it the largest producer of XPS insulation in Europe.
The UK company will continue to make products at its base in King’s Lynn, Norfolk and all the company’s employees, including those in manufacturing, commercial and services, have transferred to the new entity. Ravago Building Solutions has a licence agreement to use the trademarks for the market-leading brand names for Xenergy roofing products, Floormate flooring and Perimate wall insulation.
“Ravago has had a strategic push to seek out and add the best quality products to its portfolio and we’re delighted to be part of the family,” said Chris Gimson, commercial director, UK, Ireland, Nordics and Baltics. “We will carry on with our drive for innovation and our commitment to being a responsive company with excellent technical and customer service that continues to exceed expectations as we create solutions for our customers.”
The company was said to be a UK pioneer in developing XPS products and will continue to make them at the Norfolk plant as it has done for over 60 years. Its BREEAM and BBA certified insulation products are used to create energy efficient, high performance residential and commercial buildings. In recent years they have been used on high-profile developments such as the 2018 Stirling Prize-winning Bloomberg headquarters, the Westfield shopping centre and the Royal Wharf development, all in London.
Chris Gimson, commercial director – UK, Ireland, Nordics and Baltics at Ravago Building Solutions, said: “We are delighted that our company now embraces this significant UK business and its successful brands as we continue with our strategy of long-term growth through targeted acquisitions. As part of our Building Solutions group, the business will continue to thrive in its local market while enjoying the synergies and scale of a global group.”