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Arconic, company spun off from Alcoa, cites ‘the inconsistency of building codes across the world’
The Associated Press
Posted: Jun 26, 2017 12:20 PM ET
Last Updated: Jun 26, 2017 12:22 PM ET
Cladding maker Arconic says it is discontinuing global sales of one type of composite paneling for high-rise buildings in the wake of the devastating fire that killed 79 people at Grenfell Tower.
Arconic says in a statement Monday that Reynobond PE would no longer be sold for use in high-rise buildings. The company said that it believes “this is the right decision because of the inconsistency of building codes across the world and issues that have arisen in the wake of the Grenfell Tower tragedy regarding code compliance of cladding systems in the context of buildings’ overall designs.”
The tower’s cladding — panels widely used to insulate buildings and improve their appearance — may have been a factor in rapidly spreading the June 14 blaze.
Shares in Arconic, a company spun off from Alcoa, fell as much as 11 per cent and were down 4.4 per cent at $24.41 US in midday New York trading.
Meanwhile, hospitals and school buildings across Britain will have their exterior cladding tested for flammability as part of an urgent nationwide push to increase fire safety, the British government said on Monday.
Since the fire, cladding on 60 high-rise buildings nationwide has been tested for fire safety — and all have failed. Four towers in London’s borough of Camden were evacuated this week after the discovery of numerous fire hazards.
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