Etex and Austrotherm have entered into exclusive negotiations regarding the acquisition of URSA's extruded polystyrene (XPS) insulation business.

Etex and Austrotherm have entered into exclusive negotiations regarding the potential divestment of Etex's extruded polystyrene (XPS) insulation operations in France, Germany, Italy and Spain, subject to customary regulatory approvals and closing conditions. The proposed transaction aligns with Etex's strategic objective of further concentrating its insulation portfolio on glass wool products, while simplifying and optimising its industrial footprint.

For Austrotherm, the acquisition would represent a significant expansion of its XPS insulation business and production network. The addition of Etex's XPS facilities would strengthen Austrotherm's position in the European insulation market, extending its presence into key Western European countries, including Germany, France, Italy and Spain, and complementing its established operations across Central, Southern and South-Eastern Europe.

The transaction would include XPS manufacturing and commercial activities currently operated under the URSA brand at production sites in Bondeno (Italy), El Pla (Spain), Queis (Germany) and Saint-Avold (France), together with associated commercial operations serving customers across Western and Central Europe.

If completed, the acquisition would significantly broaden Austrotherm's geographic reach and support its long-term growth strategy. The company also expects to accelerate its sustainability initiatives through investments in XPS recycling technologies and the greater use of recycled raw materials, supporting European climate objectives and emissions reduction targets.

Etex will retain its glass wool operations at sites where both businesses currently coexist and remains committed to expanding capacity, strengthening its market presence and accelerating product innovation within the glass wool segment. Until the transaction is finalised, Etex will continue to operate its XPS business independently. Any employee transfers resulting from the transaction would be carried out in accordance with applicable local legislation and consultation requirements.

Source: Etex