EUMEPS is pleased to share this in-depth interview with Giuseppe Rinaldi, CEO of Isolkappa and President of AIPE, originally published as part of a special feature on External Insulation Systems.
With more than three decades of experience in expanded polystyrene (EPS), Isolkappa, a member of EUMEPS, represents a well-established industrial actor in the Italian construction market. In this interview, Giuseppe Rinaldi reflects on the company’s strategic transformation from packaging to thermal insulation, its significant industrial investments, and its focus on system-based solutions for thermal and acoustic performance.
The discussion also addresses broader structural questions affecting the EPS sector, including market volatility following the end of the Italian Superbonus scheme, industrial competitiveness, innovation in manufacturing processes, circular economy integration, and the role of insulation in achieving long-term energy efficiency objectives.
SPECIAL FEATURE: EXTERNAL INSULATION SYSTEMS
EPS IN THE FUTURE OF CONSTRUCTION, THROUGH INNOVATION
The company specialising in expanded polystyrene, led by Giuseppe Rinaldi, is committed to maintaining the high-quality standards achieved through continuous investment.
By Veronica Monaco.
A history spanning more than thirty years in the world of expanded polystyrene makes Isolkappa one of the longest-established players in the sector. Founded in 1991 as Sud Imballi and initially focused on the production of packaging solutions, the company joined the industrial group led by the Rinaldi family in 1995. Around ten years later, it decided to concentrate its core business on the construction sector, with the production of EPS thermal insulation solutions.
This transformation took shape in 2009, when the company officially became Isolkappa and launched a series of product innovations and investments in technologies and plants, reshaping itself into a truly advanced industrial operation. We spoke with Giuseppe Rinaldi, sole director of the company and President of AIPE, the Italian association for expanded polystyrene.
Question. Isolkappa has been active for over 30 years. What have been the main milestones in the company’s history?
Answer. The company was founded in 1991 as Sud Imballi, specialising in the production of EPS packaging solutions. Over the years, several investments enabled the business to evolve, leading in 2004 to its transformation into a manufacturer of expanded polystyrene insulation products. The definitive conversion took place in 2009, when the company name was changed to Isolkappa, officially marking its entry into the construction sector.
Q. Why did you decide to enter the construction sector?
A. Expanded polystyrene, or EPS, is linked to two main sectors: construction and packaging. Initially, our Group was strongly focused on the packaging division, but we increasingly felt the need to diversify and invest in construction as well. In our opinion, this sector was set for strong growth, driven by greater awareness of the importance of energy efficiency in buildings, both among policymakers and end users.
Q. How did you reach the current structure of the company?
A. Today, Isolkappa is part of the Industrie Rinaldi holding, a group that has been operating for over 40 years in the strategic sectors of construction and packaging. The company’s development has been gradual but steady. As early as 2010, we expanded our product range with improved lambda materials, anticipating certain market needs. Subsequently, from 2018 onwards, we launched a major industrial development plan aimed at increasing production capacity. This has included the acquisition of new plots of land and further structural investments, which are still ongoing.
Q. What investments were made between 2018 and 2023?
A. We invested more than €24 million in acquisitions, expansion of production sites, and the introduction of new technologies, in line with the principles of Industry 4.0. All investments were focused on process innovation, digitalisation, and interconnection between the various plants, to increase production efficiency and ensure consistently high quality standards over time. In parallel, a significant share of the investment was dedicated to the organisation of the company, through the recruitment of managerial profiles that helped strengthen the structure and support the company’s growth. This development path was pursued while preserving Isolkappa’s identity and the operational flexibility that has always characterised its industrial model, allowing us to respond effectively to market needs and manage the significant transformation the sector has undergone over the past ten years.
Q. What have been the most challenging obstacles to overcome?
A. We have faced many obstacles; one of the most complex has been coping with the ongoing volatility of the construction market. We have also experienced periods of exceptional growth, such as the phase linked to the “Superbonus”, characterised by suddenly very high demand and particularly intense production rhythms. In any case, the main obstacle that has marked our entire journey has been bureaucracy: over the years, we have suffered from the slow pace of the administrative system, which has required a significant effort on our part to comply with the defined industrial timelines. Another challenge has been ensuring that the market recognises the importance of the technical performance of Isolkappa’s products and solutions, in a context that is often focused solely on price. Achieving the right balance between high quality and competitiveness has certainly not been easy, but thanks to the investments made, the technologies introduced to improve process efficiency, and continuous training across all actors in the construction value chain, we have established ourselves over time as a reliable and innovative player. Quality is a long-term choice, but it is also the one that ultimately delivers the most solid results.
Q. Where is the company based today?
A. The registered office is in Milan, while the production hub is located in Battipaglia, in the province of Salerno. The Industrie Rinaldi holding, of which Isolkappa is part, operates nationwide with five production sites across Italy and ten locations including technical and commercial offices, registered offices and operational sites. The Group is also active in the circular economy through three PEPS companies, specialised in the recycling of expanded polystyrene packaging, authorised for waste treatment and accredited as Corepla platforms.
Q. How is Isolkappa organised?
A. Isolkappa’s organisational structure has evolved significantly in recent years. I deliberately chose to bring in experienced managerial profiles capable of contributing concretely to process development and the company’s overall growth, complementing the technological innovation already achieved. Today, the company is structured into several departments. The Commercial Department, led by Salvatore Cultrera, is supported by three sales engineer managers and a network of fifty agents operating throughout the country. Alongside this, for around three years now, we have developed a structured promotional and support activity aimed at technical design offices, which are strategic stakeholders for us.
Through the Research and Development department, we are constantly seeking innovative solutions, increasingly orienting our offering towards integrated systems for thermal and acoustic insulation rather than individual products. In addition, Isolkappa has a Marketing and Communication Department which, beyond supporting the Commercial function in promoting solutions, works on the brand’s market positioning through institutional and corporate social responsibility projects. The company also has a Quality, Environment and Safety Department, responsible for managing processes related to product and service quality, workplace safety and environmental sustainability, an area we consider a priority. Operations management and the entire production department are overseen by the Plant Manager, while the organisation is completed by the Administrative function and the Human Resources Department, a strategic area that has played a key role in enabling the company to reach its current stage.
Q. How many people do you currently employ?
A. Isolkappa employs around 60 people, including direct and indirect staff, with a turnover that exceeded €16 million in 2025. The Industrie Rinaldi holding, by contrast, employs more than 250 people, with total turnover of over €60 million.
Q. What are the strengths of your production organisation?
A. Our strengths lie in a state-of-the-art, automated and digitalised production facility, which allows us to guarantee high, controlled and consistent quality standards, while at the same time maintaining strong competitiveness and efficiency, including in terms of energy performance. We have invested in renewable energy sources, with an installed capacity of around 1,200 kW, enabling us to cover more than 80% of the company’s energy needs.
Another distinctive feature of the company is the strong integration between the various departments, which work together to develop innovative system-based solutions and technologies. This organisational model allows us to bring new products and solutions to market quickly. By focusing on systems and offering solutions from both a technical-design and application perspective, we are filling a gap in the thermal and acoustic insulation market and opening up significant opportunities for the future. From this perspective as well, the company is investing heavily in training its partners, not only in distribution, but also technical professionals, designers and contractors involved in application.
Q. Where does this strong focus on innovation come from?
A. It stems from the extensive experience gained in this sector and from a corporate culture oriented towards continuous improvement. When, in 2018, we decided to invest in innovation and build a state-of-the-art production plant, we drew on all our previous experience and, also through partnerships with our suppliers, committed ourselves to designing a facility that combined innovation, quality and competitiveness, which today are essential in a dynamic market such as construction.
Q. How do you see Isolkappa in ten years’ time?
A. Isolkappa is already moving in the direction of what I believe it will become in ten years: a company increasingly capable of offering complete and integrated solutions in the field of thermal and acoustic insulation, able to meet the different applications of the construction sector. I am confident that, thanks to the path we have taken, we will achieve this objective.
Q. Isolkappa produces EPS. What is the state of the market after the end of the Superbonus?
A. The end of the 110% Superbonus has inevitably led to a drop in volumes. During that phase, we experienced what could be described as a positive crisis, investing further to increase our production capacity in order to meet demand. From 2023 onwards, there has been a gradual decline in volumes, and EPS in construction has repositioned itself at pre-Covid levels. As far as we are concerned, we have managed to gain new market shares, increasing volumes even in application areas where we were not previously present. This result has been made possible by the development of increasingly innovative and high-performance solutions, expansion into new geographical areas, and consolidation of what had been achieved in the past.
Q. What was the most difficult aspect of managing the Superbonus period?
A. Remaining consistent and reliable towards our partners and customers. The Superbonus period was a challenging time, with extremely strong demand. We found ourselves managing unimaginable and unpredictable volumes, which put pressure on all company departments. Our strategic choice was to support the growth of our partners and customers in parallel with the growth that the company itself would experience over the following two years, ensuring a proportional increase in volumes in line with the expansion of our production capacity, while maintaining high levels of quality and service.
Q. There is an increasing shift towards system-based solutions. What are your objectives for the coming years?
A. After the investment cycle launched between 2018 and 2023, we have continued consistently to strengthen our industrial strategy. In 2024, we launched a major project worth around €11 million to build a plant for the production of premixed products complementary to thermal and acoustic insulation. Over the coming years, the objective will be to fully implement the system-based strategy already underway, developing it along two main directions. On the one hand, activating synergies with commercial partners aligned with our quality policy; on the other, further investments aimed at developing new products and integrated systems, in order to be increasingly competitive both in terms of technical and design solutions and in terms of economic conditions and benefits for our customers.
Q. Are there any new developments on the horizon for the Group?
A. We have a strong ambition to grow, and this has been demonstrated by the various acquisitions completed over the years, most recently the acquisition of Poliespanso, officially announced in November 2025, which is very important for the construction division of the Industrie Rinaldi holding. The aim is to ensure continuity and competitiveness across the entire Italian market; therefore, we will continue to assess further development opportunities, with the intention of expanding our organisation even further.
Q. What is the strategy behind the recent acquisition of Poliespanso?
A. The acquisition of Poliespanso is part of a broader expansion path in the EPS sector and the growth of the construction division, which represents a strategic area of future development for the Industrie Rinaldi holding. This operation allows us to establish a production hub in Northern Italy and to expand our range of thermal insulation solutions, including products for structural applications. Today, the Industrie Rinaldi Group owns three companies operating in the construction sector: Isolkappa, Bioisotherm and Poliespanso. The recent acquisition therefore enables us to diversify our offering, while keeping the organisations fully separate, and at the same time strengthens our positioning as Italy’s leading industrial hub for EPS-based construction systems.
Q. Is sustainability part of the company’s strategy?
A. Absolutely. Circular economy principles and respect for the environment are central to our investments. This is demonstrated by our commitment to recycling through the PEPS companies, the installation of photovoltaic systems to improve energy efficiency, and production-related measures aimed at reducing emissions. In our value framework, sustainability also includes corporate social responsibility. Beyond delivering quality products and services, we believe it is important to promote positive messages within the community. This is the context behind the decision to produce “Vamos”, a documentary film telling the story of the Leo brothers, Franco, tetraplegic from birth, and Dario, and their dream of taking part in the New York Marathon. The documentary has received considerable recognition, and we are considering extending its distribution to cinemas and schools. I believe that today, entrepreneurship must go beyond profit, supporting initiatives like these to spread positive messages and help build a better society.
Q. You also place strong emphasis on training. How is your Academy structured?
A. Training is a strategic asset for us and is aimed both at our employees and externally, involving commercial partners, agents, retailers, contractors and designers. From this perspective, our Industrial Innovation Hub was created as a space dedicated to training, both in technical design and application. Throughout the year, a series of events will be organised, both online through webinars and in person, allowing participants to experience first-hand the production process, the systems and on-site applications.
Q. When was the Industrial Innovation Hub inaugurated?
A. In November 2024, during an institutional event attended by the then President of the Campania Region, Vincenzo De Luca. On that occasion, we presented a new €11 million investment plan, of which €3 million is allocated to research and development, in collaboration with the University of Naples Federico II. This will also lead to the creation of an advanced laboratory equipped with technologies for analysis and studies on EPS and complementary products, enabling us to work increasingly with a system-based approach.
Q. You also use virtual reality to support training: how?
A. We have added a differentiating element: a virtual reality application that allows our stakeholders—whether contractors, distributors or designers—to experience the various solutions and applications first-hand. We introduced this innovation at the end of 2024 and are presenting it at all events, both within our Hub and at trade fairs, specifically to support traditional training activities. Over the coming months, the app will be further developed with new features and, in the future, it could also become a training tool to be used directly within distribution outlets.
Q. Is it difficult to have EPS recognised as a sustainable material?
A. I believe EPS is one of the most sustainable materials available. Within AIPE, we are carrying out Life Cycle Assessment (LCA) studies, which will allow us to demonstrate, with scientific evidence, the quality of this material—not only in terms of performance, which is already well recognised, but also in terms of its low environmental impact across its main areas of use. We should not forget that EPS is composed of 98% air and is 100% recyclable, infinitely. We are working intensively to increase overall recycling rates, both in the packaging sector and across the various applications in construction. I am therefore confident that, in the coming years, EPS will receive the recognition it deserves also from an environmental perspective.
Q. In May 2025 you were elected President of AIPE. What is your programme?
A. The programme I intend to pursue as President of AIPE is structured and ambitious, built around eight main and strategic pillars. I will mention only the most important ones: tackling misleading perceptions surrounding EPS, particularly in relation to its environmental impact; enhancing and bringing renewed attention to the qualities and technical characteristics this material offers, not only in thermal insulation. As a company, for example, we have recently launched the “Silence” line for thermo-acoustic insulation, adding acoustic insulation performance to the well-known thermal properties of EPS—performance levels that we did not initially expect. Another key objective of my mandate is to highlight the central role of this material in the energy and ecological transition that our country, and Europe as a whole, will have to face in the coming years.
Q. What scenarios do you foresee for the EPS market in Italy?
A. The EPS market is relatively stable. In the packaging sector, it has remained unchanged over the past ten years; in construction, which is a more volatile market, we saw significant peaks during the Superbonus period, but demand is now declining. I nevertheless believe that in the coming years EPS will experience significant growth, particularly in the construction sector, precisely because it will play a central role in the renovation of the building stock, as required by the Green Homes Directive and the European 2050 agenda.
Q. The Green Homes Directive: how should the Government act in this area?
A. First of all, it should ensure proper transposition of the Directive at the national level and enable, as was done during the Superbonus period, the renovation and energy upgrading of buildings through measures that can support this major transformation, taking into account the central importance of thermal insulation of the building envelope. It is right to give importance to renewable energy sources and building systems, but it is essential to start from the real priority: reducing energy losses by acting on the passive part of the building, which can cut energy consumption by up to 40%. Measures to incentivise renovation will need to be put in place, but above all, there must be greater continuity and visibility regarding the outlook for the coming years, so that the entire industry, and the construction sector more broadly, can make the right investments and plan effectively to meet demand.
Q. What is your outlook for 2026?
A. My outlook for 2026 is essentially one of continuity compared to 2025. I do not expect particularly different scenarios. It is likely that there will still be a slight contraction in volumes, especially in residential renovations, but I believe the year will close broadly in line with the previous one, without major disruption. This is because, at present, there are no new developments in terms of construction incentives, apart from “Conto Termico 3.0”, a measure that I do not believe will provide a significant boost to the sector. As for packaging, I expect the market to remain stable, in line with trends observed in recent years.
This interview illustrates how sustained investment, technical expertise and long-term industrial strategy contribute to strengthening the position of EPS in the construction sector.
Several themes raised by Giuseppe Rinaldi resonate at the European level: the importance of acting first on the building envelope to reduce energy demand; the need for regulatory continuity to provide visibility for industry; and the role of scientifically grounded evidence, including Life Cycle Assessment studies, in supporting informed policy decisions.
As the EU advances the implementation of the Energy Performance of Buildings Directive (EPBD) and the objectives of the 2050 climate agenda, the contribution of innovative, recyclable and high-performance insulation materials remains central to delivering affordable renovation and energy savings.
EUMEPS will continue to highlight the work of its members who contribute to these objectives through industrial innovation, circular economy integration and system-based construction solutions.