Kingspan positive over €10m deal in AbuDhabi

The chief executive of the Cavan-based insulation maker, Gene Murtagh, said the company’s Rigidal subsidiary would supply approximately 1 million square feet of roofing materials to the project. He added that the contract was worth more than €10m.

Kingspan agreed last August to buy Rigidal Industries for approximately €31m, with the intention of using it as a springboard for greater penetration into the Middle East and Far East.

But the contract was a bright spot in a still difficult economic environment for Kingspan.

Speaking after the company’s annual general meeting in Dublin yesterday, Mr Murtagh said he didn’t see any foreseeable end to economic difficulties in Europe but that the company remained interested in potential acquisitions.

He added that Kingspan had also eyed up potential deals in South America but that no deal was on the cards just yet. Source: Irish Independent