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February 28, 2017 12:00 AM

Kingspan earmarks EUR 600m for acquisitons in 2017

Simon Robinson
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    Kingscourt, Ireland – Kingspan could have up to EUR 600 m to spend on acquisitions in 2016, Gene Murtagh, ceo, told financial analysts in a conference call.

    Murtagh told analysts: “we have in excess of EUR 600 m of headroom.”

    He said the firm was faced with “a healthy pipeline of opportunity, but again — we seek value.”

    Gene Murtagh: deep pockets for M&A Picture: businesspost.ie

    However, the company has decided that its debt cannot be greater than twice EBITDA, he said. “which would imply our ability to invest probably up to that EUR 500 m or EUR 600 m in the current year

    He continued: “I think price sensitivity is more the issue here than ultimate opportunity, but we'll continue to try and make progress on a number of fronts.”

    You can read all of the transcript here at Seeking Alpha.

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