Belgian insulation specialist to build factory in the USA
Belgian company Recticel is to build a 50 million euro insulation panel factory in the USA. The plant is expected to be operational in the fourth quarter of 2026.
Recticel will produce insulated panels - sandwich panels made of aluminium or steel with insulation in between - in the US. These are used for the roofs and walls of warehouses, gymnasiums, schools, industrial buildings and retail stores.
The announcement of the new US facility coincides with the release of the company's full year results. The insulation specialist reported revenue growth of more than 15% to 610.2 million euros. Adjusted EBITDA - earnings before interest, tax, depreciation and amortisation - rose by more than a quarter to almost 50 million euros. Net profit reached 18.1 million euros, up significantly from 3.3 million euros in 2023.
Long-term confidence
Recticel expressed confidence in its medium- and long-term growth potential and expects to benefit from the increasing demand for energy-efficient solutions in the construction sector.
#FlandersNewsService | © ANP
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