Technonicol aims to quintuple production of insulation for shipbuilding by 2025

VLADIVOSTOK. Sept 15 (Interfax) - Technonicol is investing in the expansion of its plants in Khabarovsk and Ryazan with the aim of quintupling production of insulation for shipbuilding by 2025.

The company's Russian plants plan to quintuple production of materials for shipbuilding by 2025 to meet growing demand for these products, Technonicol said. Demand for mineral insulation for shipbuilding in Russia doubled in 2021 compared to 2020, the company said. It did not disclose production figures.

"We forecast that in 2022 this figure will increase by another 50% compared to last year. Demand is being driven by growing construction of cargo and passenger ships, icebreakers and vessels for gas and oil production. A large amount of materials is used for the shipbuilding sector in the Far East," the head of the company's shipbuilding insulation department, Dmitry Polyakov was quoted as saying in the press release.

Technonicol currently produces mineral insulation for shipbuilding at its plants in Khabarovsk, Ryazan, Belgorod and Chelyabinsk.

The Ryazan plant will be expanded by the end of 2022, and a similar project will be carried out at the Technonicol Far East plant in Khabarovsk in 2023, the company said. More than 50 million rubles will be invested in the expansion of the Khabarovsk plant.

Technonicol plants manufacture more than 400 types of products for construction of ships and marine oil and gas structures. The materials are intended for heat and sound insulation, as well as fireproofing utility systems and loadbearing metalwork of vessels and offshore platforms.

Technonicol, which was founded in 1992, manufactures roofing, waterproofing and insulation materials.