Kingspan Group

Kingspan Group plc
Public
Traded as
Founded Ireland (late 1960s)
Headquarters Kingscourt, Co Cavan, Ireland
Key people
 Eugene Murtagh, Chairman
Gene Murtagh, CEO
Products Insulated panels and facades, Insulation, Structural, Solar and Renewables Engineered Timber Systems, Access Floors, Wind Turbines, Septic Tanks
Revenue € 1,628.7 million (2012)[1]
€ 104.7 million (2012)[1]
€ 74.7 million (2012)[1]
Number of employees
 4,700 (2011)
Website www.kingspan.com/

Kingspan Group plc is a building materials company based in Ireland.[2]

History

Founded in the 1960s by Eugene Murtagh, the company floated on the Irish Stock Exchange in 1989 with a value of IR£20m.[3] It expanded into insulated panels and rigid insulation board via numerous greenfield plants, and acquisitions including the European insulation arm of CRH plc in 2010 and the construction division of ThyssenKrupp Steel in 2012. The company has a presence in Ireland, the UK, Mainland Europe, Canada, the USA and Australia.

Turnover peaked in 2007 at €1,863m with operating profits of €236m, but the Irish financial crisis led to a downturn in the company's markets, although it has recovered strongly in 2011 and 2012.

In order to stabilise the company, they have focussed on high-performance products. The intention is to give their customers improved efficiency and reduce impact on the environment.[4] This policy appears to be yielding results as revenue, profit and earnings per share have increased year-on-year since 2009.[5] Despite this, 2010 showed the first growth in sales for three years.[6]

In August 2012 the company announced the acquisition of two companies: the ThyssenKrupp Construction Group and Rigidal Industries LLC.[7]

Kingspan currently operates the largest insulated panel factory in the world in Holywell, Wales.[8]

Operations

Its operating units are as follows:[9]

Litigation

Kingspan Access Floors v. Hewetson Floors Ltd

On 21 January 2009, Hewetson Floors Ltd t/as Kingspan Access Floors applied to the Company Names Tribunal under s.69(1)(b) Companies Act 2006 for a change of name of Hewetson Floors Ltd, which had been registered at Companies House since 8 October 2007.

The application went un-defended by the respondent and the adjudicator ordered on 26 March 2009 that Hewetson Floors Ltd must change their name within one month. Additionally the respondent was ordered not to cause or permit any steps to be taken to register another company with an offending name which could interfere, due to its similarity, with the goodwill of the applicant.

Hewetson Floors Ltd was also ordered to pay a contribution towards Kingspan Access Floors' costs.[10]

See also

References

  1. ↑ 1.0 1.1 1.2 Preliminary Results 2012
  2. ↑ Kingspan website
  3. ↑ Brave New World
  4. ↑ Kingspan Low Energy carbon
  5. ↑ Investors Section of Kingspan Group website
  6. ↑ Kingspan sees first growth for three years
  7. ↑ Kingspan Group plc ("Kingspan") announces the acquisition of ThyssenKrupp Construction Group and Rigidal Industries LLC
  8. ↑ Kingspan’s Holywell factory has become a zero waste to landfill site
  9. ↑ Kingspan: Featured products
  10. ↑ Kingspan Access Floors v. Hewetson Floors Ltd Retrieved 16 October 2014

External links