ROCKWOOL to acquire leading Vietnamese stone wool manufacturer
With closing expected soon, ROCKWOOL will acquire Khai Hoan Insulation, based near Ho Chi Minh City, making it ROCKWOOL's first production facility in the country. The acquisition complements ROCKWOOL’s existing business in Vietnam and reflects the Group’s increased focus on the region.
Vietnam is among the fastest growing countries in southeast Asia. Integrating Khai Hoan Insulation and its approx. 125 employees into the ROCKWOOL family of companies will support our growth plans both in Vietnam and the wider region via exports. Vietnam’s economic outlook remains positive with an expected 2024 GDP growth of more than 5.5 percent and continued high urbanisation rate, with some six million people expected to move into urban areas over the next four years.
ROCKWOOL-Asia Managing Director Darryl Matthews comments, “Over its 23-year history, Khai Hoan Insulation has played an important role in building up the stone wool insulation sectors in Vietnam. Its quality products serve insulation sub-sectors including buildings, industrial, and marine offshore. We look forward to welcoming the Khai Hoan team into ROCKWOOL”.
KHAI HOAN INSULATION - Vietnam
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