Industrial Insulation Group LLC announced that it has, subject to court approval, reached an agreement to acquire certain production equipment from Alvarez & Marsal, the Court appointed receiver, of Fibrex Insulations Inc. of Sarnia, Ontario, Canada.
IIG spent the last month evaluating the Fibrex operations with the intention to restarting the Sarnia plant but ultimately there were several conditions that made restarting not feasible for the company.
“Although we were disappointed that IIG was not able to purchase and restart the Sarnia plant, we will be able to transfer the equipment to our Phenix City, Ala., location,” said IIG CEO Philippe Delouvrier. “Additionally, we continue our efforts to increase pipe insulation capacity as quickly as practical in order to satisfy our customers as well as former Fibrex customers.”
IIG will move and commission the machines to the MinWool 1200 plant in Alabama and hopes to have this enhanced production on stream soon. The company anticipates the first machine to be operational in July and the second in September.
Today IIG is increasing, as much as possible, production of Mineral Wool products, MinWool 1200 and MPT to meet the additional market demand. The company is also making investments to increase the capacity of its present equipment to ensure that a reliable source of approved and compliant products made in North America remains available.
IIG is a Calsilite/Johns Manville joint venture. For more information, visitwww.iig-llc.com.
IIG Purchases Production Equipment from Canadian Fibrex
March 10, 2011