27 Sep 2017 07:00
Kingspan Group plc
Acquisition
27 September 2017
Kingspan Group plc ("Kingspan") announces acquisition in Brazil
Kingspan, the global leader in high performance insulation and building envelope solutions, is pleased to announce that yesterday it acquired 51% of Isoeste Construtivos Isotérmicos S.A ("Isoeste"). Isoeste is the leading insulated panel manufacturer in Brazil, operating from four sites with approximately 630 employees, and with forecast sales for 2017 of circa R$500m (€134m).
Gene Murtagh, Kingspan CEO, commented:
"We are delighted to create this partnership with the founders of Isoeste, the number one player in Brazil's insulated panels market. Together with our recent investments in Colombia and Mexico, this acquisition firmly places Kingspan in a market leading position across Latin America, with a strong platform for further expansion in the region."
For further information contact: |
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Kingspan Gene Murtagh, Chief Executive Officer Geoff Doherty, Chief Financial Officer |
+353 42 9698000 +353 42 9698000 |
Murray Consultants Douglas Keatinge |
+353 1 4980300
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