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Armacell strengthens its Commitment in Korea

MUNSTER/GERMANY, March 26, 2014 – Armacell International, the world’s leading manufacturer of flexible technical insulation materials, is intensifying its business activities in South Korea. Having successfully set up its own pro¬duction facilities in Cheonan, Armacell is now taking over Armatech Co., Ltd, the leading 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.

the Armacell site in Cheonan in South Korea

The Armacell site in Cheonan (South Korea). | photo: Armacell

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. It is headquartered in Münster, Germany. Amaflex is the leading brand in the field of flexible technical insulation. The company also produces thermoplastic insulation materials, covering systems, fire protection and noise control solutions as well as special foams for a multitude of industrial applications. Over the last two years, Armacell has developed new insulation systems for the oil and gas market, core foams for composite materials, and low-smoke products that are setting new standards in the industry.