Hempel has acquired a “groundbreaking” technology it says will change the market for insulation coatings while enhancing workers’ safety and lowering customers’ environmental footprint.
The technology, developed by Das Lack Enertherm (DLE), a German-English company, will enable Hempel to develop and launch coating products with insulating properties within the next year.
The acquisition is part of Hempel’s new Double Impact strategy that will see the company double its revenue to EUR 3 billion by 2025 and create leadership positions in the Energy segment.
The strategy will be realized through both acquisitions and organic growth as well as investments in sustainability, innovation and digitalization.
“With this technology acquisition, we are now able to penetrate the insulation coatings market and bring new business opportunities to Hempel. This is an important next step to support our journey towards segment leadership within Corrosion Under Insulation (CUI), High Heat and Insulation, as well as our Double Impact strategy,” says Martin Wiese, Head of Protective and Industrial Business.
By offering customers more insulation choices, Hempel says it can also help to reduce the risk associated with CUI.
“Apart from the product properties, our new insulation coatings will also lower our customers’ carbon footprint and will reduce heat loss significantly compared to current insulation coatings – both of which mean we will be helping our customers deliver on their sustainability agendas,” adds Simon Daly, CUI & High Heat Global Business Development Manager.