Thermafiber Announces $5 Million Investment to Upgrade Equipment, Reduce Energy Consumption and Increase ‘Green’ Manufacturing Capabilities

Thermafiber, Inc., a leading manufacturer of mineral wool insulation products used in commercial and industrial development as well as many industrial applications, today announced a capital investment of $5 million for equipment modernization in the company’s Wabash factory. The company said that the investment will help support its current manufacturing capacity while reducing energy consumption and lowering its carbon footprint.

Thermafiber made the investment in conjunction with Altus Capital Partners, its largest shareholder.

“This is a major commitment by Thermafiber to meet the growing needs of customers around the world for years to come,” said Steve Edris, President and CEO. “Like many of our customers, including home owners, architects and building owners, we are looking for ways to lower the impact of rising raw material and energy costs on our own operations while also seeking to increase our Green manufacturing capabilities. This investment will continue to improve our operations to meet increasing demand, improve product quality, and reduce our energy consumption.”

Greg Greenberg, a senior partner of Altus Capital Partners, Inc., said, “Thermafiber demonstrates the ability of American manufacturers to survive and prospect with high-quality, design-intensive products made in the U.S. and sold around the world. We are delighted to work with Steve Edris and the Thermafiber management team in further strengthening its leadership position, expanding market share and creating operating efficiencies, even during difficult financing periods.”