Kingscourt, Ireland – Polyurethane insulation panel maker Kingspan is looking at acquiring metal composite panel producer Joris Ides Group, a company based in based in Belgium.
In a statement issued by Kingspan today, the company said it “notes recent press speculation in Belgium regarding a potential acquisition by Kingspan of the Joris Ide Group.
“Kingspan confirms that it is in advanced discussions with the shareholders of the Joris Ide Group to acquire the business, although there can be no certainty that current discussions will result in an agreement being concluded. A further announcement will be made if and when appropriate."
Founded in 1985 by Joris Ide, the company began with the production and sale of metal sheets, manufactured from galvanised steel and pre-painted galvanised coil steel.
According to its website, the company has 17 production sites in 7 countries and it attracted investment from Ergon Capital Partners, a Brussels-based investment firm in 2007.