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2021-04-13

DGAP-News: Armacell and METYX pursue joint business opportunities in Turkey

DGAP-News: Armacell / Key word(s): Agreement/Sustainability
Armacell and METYX pursue joint business opportunities in Turkey (news with additional features)

13.04.2021 / 09:06
The issuer is solely responsible for the content of this announcement.


Press release

Armacell and METYX pursue joint business opportunities in Turkey

 

- Strengthening Armacell's position in the Turkish composite industry

- PET-based foam core kitting operations for wind turbine manufacturing

- Armacell's 7th global PET foaming line to be installed in Turkey

Luxembourg/Thimister, 13 April 2021 - Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, pursues discussions with METYX, a Turkey-based manufacturer of high-performance technical textiles, to jointly serve the Turkish composite manufacturing market.

The collaboration will provide the local production of Armacell's PET-based foam products supply to METYX's core kitting operations and distribution. Armacell has a long expertise in developing and manufacturing innovative and environmentally friendly PET foam solutions, and METYX is excelling in the production of high-performance technical fabric products.

Armacell will install a new PET foam production line, the seventh of its kind, close to the METYX kitting facility in the Manisa area, Western Turkey. Locally manufactured PET foams are made by Armacell's patented rPET processing technology enabling high-performance, cost-effective and sustainable PET foam core materials based on 100% recycled PET.

-ends-

About Armacell
As the inventors of flexible foam for equipment insulation and a leading provider of engineered foams, Armacell develops innovative and safe thermal, acoustic and mechanical solutions that create sustainable value for its customers. Armacell's products significantly contribute to global energy efficiency making a difference around the world every day. With more than 3,000 employees and 23 production plants in 15 countries, the company operates two main businesses, Advanced Insulation and Engineered Foams, and generated net sales of EUR 591 million and adjusted EBITDA of EUR 120 million in 2020. Armacell focuses on insulation materials for technical equipment, high-performance foams for high-tech and lightweight applications and next-generation aerogel blanket technology.

For more information, please visit: www.armacell.com

Contacts

CorporateProducts
Tom Anen
+352 2484 9828
press@armacell.com
Belinda Birkenfeld
+32 87 325 070
belinda.birkenfeld@armacell.com

Additional features:

File: Press Release_Armacell and METYX pursue joint business opportunities in Turkey_13 April 2021



13.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


1183842  13.04.2021 

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