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Kingspan buying Recticels insulation, flexible foams units

April 18/2019
MOSCOW (MRC) -- Irish building material manufacturer Kingspan Group has made an offer to buy Recticels insulation and flexible foams divisions for 700m, the company announced 16 April, as per Plasticsnewseurope.
The offer is subject to approval by the board of Belgium-based Recticel and the usual regulatory officials.
There can be no certainty that the offer to the Board of Recticel will result in an agreement being concluded or, if concluded, receiving regulatory approvals, the Kingscourt, County Cavan-based company said.
Kingspan also said that it had entered into an exclusive back-to-back agreement with a third party for the disposal of Recticels flexible foams business, if the deal is completed.
The Irish group has been on the acquisition trail lately, spending over 620m for ten acquisitions over the past two years.
The largest of these deals was the acquisition, in March 2017, of the Spanish polyurethanes business, Synthesia International, Poliuretanos and Huurre, which the group said would give it a leading position in both insulated panels and insulation boards on the Iberian Peninsula.
Author:Anna Larionova
Tags:PS, EPS, cable extrusion.
Category:General News
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