Armacell signs deal with ITP

MEBANE, N.C. — Armacell, which manufactures flexible insulation foams, has signed a purchase agreement for the business of Industrial Thermo Polymers Ltd, which makes extruded polyethylene foam products. The deal, which closed last Friday, will strengthen Armacell’s position in the market, particularly in the new segments of water toys and backer rods. Brampton, Ont.-based ITP was founded in 1980 and manufactures insulation products in a range of markets.