Armacell acquires engineering business of E&M Industries in Australia

EQS-News: Armacell / Key word(s): Acquisition
Armacell acquires engineering business of E&M Industries in Australia

17.06.2024 / 10:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Press release

Armacell acquires engineering business of
E&M Industries in Australia

* Establishing and growing insulation business in Asia Pacific

* Reinforcing strategy on industrial insulation jacketing segment

* Gaining momentum in energy and solution-selling


Luxembourg, Perth, 17 June 2024 - Armacell, a global leader in flexible foam
for the equipment insulation market and a leading provider of engineered
foams, today announced the acquisition of the engineering business of E&M
Industries, a well-established insulation fabrication business in Western
Australia.

Armacell Australia Engineering Pty Ltd will be operating from the existing
manufacturing facilities in Perth and significantly strengthen the Group's
energy and solution-selling business in the region.

"This deal reinforces our endeavour of transitioning from a material
manufacturer to an industrial solutions provider with a strong focus on
energy-saving solutions. E&M Industries has a successful track record in the
insulation jacketing industry and we are confident that their experienced
team will contribute to our growth in Australia", said Liam Douglas,
Armacell's Vice President APAC.

Founded in 2002, E&M Industries sells innovative thermal and acoustic
insulation jacketing systems across various industries and energy majors.
The company mainly serves the Australian market as well as some countries in
the Asia Pacific region.

Jeff Fraser, founder and owner of E&M Industries, commented: "We are
delighted to join forces with Armacell and support the rapid development of
the company's acoustic and industrial insulation business."

The terms of the transaction remain confidential.

-ends-

About Armacell

As the inventor of flexible foam for equipment insulation and a leading
provider of engineered foams, Armacell develops innovative and safe thermal
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 3,300
employees and 25 production plants in 19 countries, the company operates two
main businesses, Advanced Insulation and Engineered Foams, and generated net
sales of EUR 836 million and an adjusted EBITDA of EUR 155 million in 2023.
Armacell focuses on insulation materials for technical equipment,
high-performance foams for acoustic and lightweight applications, recycled
PET products, next-generation aerogel technology and passive fire protection
systems.

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

Media & Investor Contact

Tom Anen

Director Corporate Communications & Investor Relations

+352 2484 9828

press@armacell.com


---------------------------------------------------------------------------

17.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

1926571 17.06.2024 CET/CEST