NEWS RELEASE

Knauf Insulation North American CEO and President Obama discuss job creation, energy efficiency and pending HOMESTAR legislation

President confirms it’s time to save energy during meeting with Knauf Insulation North America CEO Mark Andrews

(SAVANNAH, Ga., March 2, 2010) – Today, Knauf Insulation North America CEO Mark Andrews met with President Barack Obama to discuss, and show support for, pending HOMESTAR legislation; a program designed to create jobs and deliver energy efficiency across the United States. HOMESTAR uses incentives to encourage homeowners to make energy efficient investments in their homes in return for substantial government rebates. Homeowners who invest in building insulation, mechanical systems, energy efficient appliances, and whole-home energy efficiency retrofits will be eligible for incentives and rebates. The meeting confirmed that Knauf’s long held position of “it’s time to save energy” aligns with the President’s goal of creating jobs through energy efficiency.

“Knauf has always believed that energy efficiency is important because when consumers use less energy, they save money and improve their cash flow,” says Andrews.  “And insulation is the quickest and easiest way to make an impact.  The savings from insulation are well-documented and will start accruing for consumers from day one.”  Adding insulation reduces average home heating and cooling costs by around 20 percent. 

“Buildings account for 40 percent of the energy used in the U.S.” continues Andrews. “Bringing 3 million homes up to code will save those homeowners as much as $9.5 billion in energy costs over the next 10 years while saving the nation the energy equivalent of the entire output of three coal-fired power plants each year.”

Knauf Insulation has led the industry in recent years with the introduction of ECOSE^® Technology, a revolutionary binder used in glasswool insulation that eliminates the phenol, formaldehyde, acrylics and other petro-based chemicals found in traditional fiberglass binders.  ECOSE Technology is the result of over five years of intense Knauf research and development, resulting in a more sustainable binder for its products. Knauf Insulation director of sustainability and product affairs Scott Miller says, ““With energy costs rising, and energy sources diminishing, conservation is critical for our earth’s future.  Insulating buildings is the single most important factor in ensuring a sustainable future.  Insulation is a known technology that has an immediate economic impact and provides a substantial environmental payback.”

In addition to the economic and environmental savings, the HOMESTAR program will create jobs.  Unemployment in the residential construction segment stands at 24.7 percent. HOMESTAR will create 168,000 jobs in skilled manufacturing and construction that can’t be outsourced. “Construction-related manufacturing is running at less than 65 percent of capacity,” says Knauf Insulation vice-president of marketing Joey Viselli. “Producing these energy-saving products will re-start factories across the country and take advantage of capacity that is immediately available while putting skilled contractors back to work.” 

HOMESTAR is currently proposed as a part of the U.S. Senate’s jobs agenda for America. The program invests $6 billion in the form of incentives, matched by private investment, to generate three million home retrofits and tens of thousands of jobs across the United States. The President’s Economic Recovery Advisory Board has unanimously recommended HOMESTAR as a strategy for near-term job creation.

And Knauf and its contractor partners are ready today says Andrews. “We are ready and able to ramp up quickly to deliver home energy efficiency improvements.  HOMESTAR will generate thousands of jobs and reduce the utility bills of countless homeowners. It’s important, and the time to act is now. It’s time to save energy and it’s time to put Americans back to work.”

Knauf Insulation is a leading global manufacturer of thermal and acoustical insulations for residential, commercial, industrial, OEM and metal building applications. For more information about Knauf sales and products, visit www.knaufinsulation.us, write to Knauf Insulation GmbH, One Knauf Drive, Shelbyville, IN  46176 or call 800-825-4434 ext. 8212.