Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
July 20, 2006 12:00 AM

Kingspan announces €87m Xtratherm takeover deal

Utech Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    London -- Kingspan Group plc has announced the takeover of Xtratherm, an insulation products manufacturer, after agreeing to pay €87 million for parent company Leanort Ltd.

    The acquisition of Leanort, partly owned by the Hynes family, involves a €67 million cash offer and a €20 million settlement of Xtratherm's debt.

    Kingspan, a manufacturer of construction products, will also enter into an option agreement to buy an Xtratherm property in the UK for €11 million.

    Xtratherm manufactures polyisocyanurate (PIR) rigid board insulation for the British and Irish markets from facilities in Chesterfield in Britain and Navan in Co Meath, Ireland.

    According to Kingspan, most of the senior Xtratherm management team will stay at the company.

    Kingspan planned to fund the takeover from its resources and expected up to €20 million in future expenditure savings.

    "The acquisition of Xtratherm represents an excellent opportunity for Kingspan to bolster its presence in the UK and Irish insulation markets during a dynamic time for the insulation industry,'' Kingspan CEO Gene Murtagh said in a statement.

    ''The increased output and spare capacity which Xtratherm brings to Kingspan represents an excellent opportunity to generate operational and capital expenditure savings and to harness the next wave of demand, driven by the regulatory and energy saving requirements of the market.''"

    Recommended for You
    Jaguar TCS Racing Formula E car Aero wrap 800
    Aero’s urethane films add to Jaguar Formula E cars’ sustainable credentials
    Hexion
    Hexion’s “safer” alternative to 2-ethylhexanoic acid meets ECHA demands
    A smiling executive wearing a suit and tie, standing in front of the Pearl Polyurethanes Systems logo.
    Pearl expands into Egypt, appoints regional sales head
    Latest Issue
    UTech April/May 2023
    Get the latest edition here
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Crain Communications
    11, Ironmonger Lane
    London
    EC2V 8EY
    United Kingdom

    Editorial
    Phone +44 (0) 20 3287 5935
    Email click to send

    Customer Service
    Phone +1 313 446 0450
    Email click to send

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe