News

Venture in GCC Region
By Knauf Australia on March 26, 2013

Knauf Insulation Holding GmbH are very pleased to announce the signing of an agreement with Exeed Industries LLC to acquire a holding in their subsidiary, Exeed Insulation LLC, which will operate as a joint venture under Knauf Insulation management.

Knauf Insulation Holding GmbH are very pleased to announce the signing of an agreement with Exeed Industries LLC to acquire a holding in their subsidiary, Exeed Insulation LLC, which will operate as a joint venture under Knauf Insulation management.

Exeed Insulation LLC currently operates a newly built glass mineral wool 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. Knauf Insulation 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.