Friday 28 April 2017

Kingspan linked to €300m Thyssen deal

Nick Webb

Nick Webb

GENE Murtagh's listed building firm Kingspan has been linked with a move to buy part of the giant German group Thyssen Krupp.

It has been suggested that Thyssen Krupp's insulation business could interest Kingspan, which recently indicated it might buy a €300m-plus firm to expand German operations. The Thyssen Krupp insulated panel division would make a "logical" fit, say analysts.

Germany accounts for 10 per cent of Kingspan's sales. Murtagh (above) has form when it comes to buying assets at knockdown prices.

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