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A major building materials maker has reached an agreement to acquire an Illinois-based spray insulation maker, company officials said. Owens Corning officials said the addition of Natural Polymers LLC would strengthen its product portfolio and expand into a high-growth segment.
Natural Polymers, based in Cortland, Ill., produces spray polyurethane foam insulation. Company executives said its products are among the lowest in volatile organic compounds in the industry and many are included in Underwriter’s Laboratories’ GreenGuard Gold certified program to reduce indoor air pollution and pollution. exposure to chemicals.
Owens officials said they hope to use their knowledge of materials science to strengthen the company’s products and business. Natural Polymers is expected to record $100 million in sales this year. Todd Fister, president of Owens Corning’s insulation business, said Natural Plymers’ “proven technology” enables them to provide sustainable solutions and offer their customers a diverse product portfolio.
Owens Corning, based in Toledo, Ohio, manufactures roofing, insulation and other building materials. The deal is expected to close in the third quarter of the year, subject to regulatory approval and other conditions. Natural Polymers President and CEO Benjamin Brown will join Owens in a “leadership of innovation” role following the acquisition.
Financial terms were not disclosed.
“I am excited about this transaction and believe Owens Corning is best positioned to accelerate the growth of the business, benefiting our customers and supporting our vision to build the best spray polyurethane foam brand in the industry” , Brown said.
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