According to a company statement, AkzoNobel has signed an agreement to sell its extruded polystyrene (XPS) insulation materials production activities in Romania to HIRSCH Porozell S.R.L.

The XPS production unit became part of AkzoNobel following the acquisition of Fabryo in October 2018. The transaction, which includes the XPS production facility in Tunari, along with 22 professionals in production and technical roles, is scheduled to be completed in the second quarter of 2023. Financial details are not available.

HIRSCH is one of the leaders in high-quality expanded polystyrene (EPS) insulation materials, with over 30 production units primarily in Central and Eastern Europe. Through this acquisition, HIRSCH gains complementary XPS technology.

Currently, XPS products are sold under AkzoNobel's APLA brand. Through this intended divestment, AkzoNobel will be able to streamline its footprint to a single production site in Romania and continue to offer XPS products under the APLA brand through production collaboration with specialists in this category (including the purchasing company).