Business

Friday 15 November 2019

Kingspan seals deal

building

Building materials company Kingspan has agreed to buy Belgian insulated panel maker Joris Ide group for around €315m.

The Cavan-headquartered company said Joris Ide's suite of European manufacturing facilities would provide "a uniquely complementary geographic footprint to Kingspan's existing European insulated panel business".

"The acquisition of Joris Ide Group represents a quantum leap forward in the execution of our strategy to fully globalise Kingspan," chief executive Gene Murtagh said.

In Dublin Kingspan shares closed up nearly 3pc.

Herald

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