Denmark-based insulation maker Rockwool International (Copenhagen:ROCK-B) expects its Indian factory to begin shipping insulation for the process industry by the end of 2010.
Thomas Nordli, senior consultant for group communications at Rockwool, told the Cleantech Group that construction is expected to start within the next few months in Dahej, India.
However, a factory planned for Russia is still on the books with no specific timeline thanks to the financial crisis, which halted the country’s booming demand, Nordli said.
The slowdown was reflected in the Danish firm’s newly released third-quarter results, which showed a 21 percent decline in sales through the third quarter of this year thanks to the stagnation in the new construction market. Rockwool recorded nearly DKK 8 billion ($1.6 billion) in sales in the first nine months of 2009.
But investors saw a silver lining today after the 3Q09 report, sending the firm’s shares up 2.15 percent to close at DKK 522 today on the NasdaqOMX Nordic Exchange Copenhagen.
The reason for the optimism could be that the recession has spurred growth in some business sectors for the €1.8 billion-per-year company, Nordli said.
Rockwool manufactures and sells stone wool insulation, which is made by melting volcanic rock …




