In 1989, L’ISOLANTE K-FLEX founded its first production plant for elastomeric flexible foam insulation materials in Roncello, Italy, a province of Milan. The company was founded by Amedeo Spinelli, the current president and owner, whom had previous experience in the rubber manufacturing industry. Initially, the company started with only 35 employees.
L’ISOLANTE K-FLEX quickly asserted itself in the market and grew rapidly. In 1993, K-FLEX had already established a significant market share in Italy and was expanding into other European markets with the opening of offices in France and Spain (Barcelona in 1995 and Madrid in 1998).
Almost ten years after its foundation, in 1998, L’ISOLANTE K-FLEX began its expansion outside of Europe by inaugurating K-FLEX Rhein, the first of four Chinese manufacturing plants. The last Chinese plant became fully operational in the beginning of 2009. K-FLEX also opened a factory in Turkey in 1999 and, in March 2001, started a plant in the U.S. (Youngsville, North Carolina) and then continued its expansion into Russia (2005), India (2008) and Malaysia (2008).
The Company has also continued its development in Europe with new branches in Germany (December 2000), Scandinavia (July 2005), Poland (December 2005), the United Kingdom (April 2006) and Romania (July 2008).
L’ISOLANTE K-FLEX has grown rapidly, not only in size, but also in its product range. K-FLEX has expanded and diversified its product lines to reach many different markets, as well as worked to consolidate its presence in existing markets around the world. The Company has recently concluded several strategic acquisitions in England, China and the United States.
Over the course of 2008, K-FLEX completed several strategic consolidations in major markets. L’ISOLANTE K-FLEX acquired shares of their joint venture Nomaco K-FLEX USA in January 2008. The Italian company now holds all shares of the new company, K-FLEX USA LLC. This strategic acquisition ensures a fast and efficient distribution network and central location in U.S. territory to support their goal of becoming a dominant player in the North American insulation business.
In April 2008, L’ISOLANTE K-FLEX consolidated its control over activities in China by signing an agreement between K-FLEX (Hong Kong) Insulation Company Limited and Pan Overseas Co-Chen Ltd that allowed the Italian company to acquire all of the shares. The strong presence of L’ISOLANTE K-FLEX in the Chinese market has brought good results in terms of annual growth over the past five years. This acquisition allows the K-FLEX Group to improve its strategies in China and in the Asian-Pacific area through a more rapid introduction of technological innovations.
The last strategic activity of 2008 was the 100% share acquisition of BevEx Ltd. BevEx offers an important diversification opportunity for L’ISOLANTE K-FLEX through its presence in the Food & Beverage sector.