Turkish industrial conglomerate Koc Holding has proposed the sale of its glass wool and insulation materials manufacturer Izocam to Danish stone wool producer Rockwool, it was reported on 24 March 200…
Turkish industrial conglomerate Koc Holding has proposed the sale of its glass wool and insulation materials manufacturer Izocam to Danish stone wool producer Rockwool, it was reported on 24 March 2004. The move is in line with plans by Koc Holding to withdraw from the insulation sector. In the past few years Izocam made attempts to negotiate a partnership with another unnamed foreign company but without reaching agreement. Reportedly, Koc Holding attempts to sell Izocam are mainly a result of the growing number of new companies in the sector and a fall in their profit margins. Rockwool, a global leader in stone wool, has 22 factories in 14 countries in addition to a distribution network in 13 countries. The company employs more than 7,000. Izocam has production facilities in Gebze, Tarsus, Beylikduzu, Bolu and Eskisehir. As well as glass wool, the company also produces stone wool, polystyrene products, elastomeric rubber, foam products and water insulation supplies. Izocam exports to a number of mainly EU countries including Germany, France, Italy, Sweden and Greece.