Kingscourt, Cavan — Rigid polyurethane insulation company, Kingspan, is set to open its first plant in Iran “within months” according to the Irish Independent, a newspaper.
The plant will be designed to make insulated air-conditioning ducts initially for the country’s airports: A huge source of energy loss is blowing cold air and hot air around buildings… [the investment] is very small,” said Gene Murtagh.
He added that the Iranian plant would be a 100% owned Kingspan subsidiary.
Kingspan declined to give any further information.
Separately, according to the press report Kingspan could have up to EUR 400m earmarked for corporate acquisitions this year.