BRUSSELS, March 26, 2013 /PRNewswire/ --
Knauf Insulation Holding GmbH (KI) are very pleased to announce the signing of an agreement with Exeed Industries LLC (Exeed) to acquire a holding in their subsidiary, Exeed Insulation LLC, which will operate as a joint venture between Exeed and KI, under KI management.
Exeed Insulation LLC currently operates a newly built glasswool insulation plant in the ICAD 1 Musaffah in Abu Dhabi. In addition to assuming management control of the business, Knauf Insulation will also inject state of the art production know-how and technology, including ECOSE® Technology, to ensure that the plant produces the highest quality glass mineral wool and becomes the lowest cost glasswool plant in the region. KI will also provide product development and marketing expertise to ensure that the business can meet all the current and future needs of specifiers, distributors and contractors throughout the GCC.
Following completion of the transaction the business will be renamed Knauf Exeed Insulation LLC and will be managed by Mr Thorsten Dambly, formerly General Manager, Austria and Switzerland for Knauf Insulation.
Knauf Insulation Holding GmbH are very pleased to partner with Exeed Industries LLC, the premier industrial group in Abu Dhabi, in this venture and look forward to further joint investments in the GCC region.
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About Knauf Insulation
Knauf Insulation is one of the most respected names in insulation worldwide and offers a broad range of insulation solutions to meet the increasing demand for energy efficiency, fire resistance and acoustic performance in new and existing homes, non-residential buildings and industrial applications. Its 5,000 employees are active in more than 35 countries and more than 30 manufacturing sites worldwide for the production of glass mineral wool, rock mineral wool, wood wool, extruded polystyrene, expanded polystyrene and extruded polyethylene. The company offers an unrivalled range of insulating materials for construction, technical insulation in the industrial field, heating, ventilation and air conditioning applications as well as original equipment manufacturing solutions. Knauf Insulation is part of the German family-owned Knauf Group.
About Exeed Industries:
Exeed Industries is the industrial arm of National Holding, with operations across UAE and the wider MENA region. The group holds diversified interests in specialized manufacturing industrial and agricultural sectors and attracts investments into the economies in which it operates. Exeed Industries vision is to be the industrial partner of choice in line with Abu Dhabi 2030 vision.
SOURCE Knauf Insulation