Disclosed is an apparatus and method of fabricating tank wrap of desired thickness having fibers oriented generally in the thickness direction from lengths of insulation material having fibers oriented generally in the length direction. The method comprises several sequential steps. The first step is positioning the lengths of insulation material lengthwise along a first movable track conveyor, such that the fibers are oriented generally parallel to the direction of conveyance as the lengths progress downstream in a longitudinal direction along the conveyor. Second step is severing the insulation material completely across the length, at intervals equal to the desired thickness of the tank wrap to be fabricated. Next the cut lengths of insulation material are positioned lengthwise across a second movable track conveyor such that the fibers are now oriented generally perpendicular to the direction of conveyance, and in an abutting relationship. Finally, a continuous length of backing material is affixed to the abutted severed lengths to form a continous length of tank wrap having fibers generally oriented in the thickness direction.