IIG and Cabot in Subsea Insulation Deal
Johns Manville Industrial Insulation Group (IIG) and Cabot Corporation have reached an agreement that should enable IIG to produce and market thin, high-performance insulation in the subsea market, using Cabot’s proprietary technology and aerogel products.
According to IIG, this strategic agreement positions the company to further expand its market reach into the subsea market and provide additional insulation solutions to its oil & gas customers.
Fred Stephan, senior vice president and general manager of Johns Manville’s Insulation Systems business, said that he believes the agreement will provide strategic opportunities for both Cabot Corporation and IIG.
“Our relationship with Cabot Corporation is an important step toward enhancing our product portfolio in response to our customers’ growing need for thin, high-performance insulation in the subsea and other markets. We are excited to expand our ability to provide insulation solutions to our oil and gas customers for the international market,” said Stephan.
“We are pleased to have completed this arrangement with Johns Manville’s Industrial Insulation Group. As a leading manufacturer of aerogel for thermal insulation solutions in high-temperature industrial applications, we believe that they will be able to expand and accelerate the future growth potential of our Compression Pack technology in the subsea market,” said Nicholas Cross, executive vice president and president, Performance Chemicals segment for Cabot Corporation.
