Kingspan buys Pactiv's US building insulation division

Building products company Kingspan Group has announced a deal to buy the US building insulation business of Pactiv for $82 million.

18th August, 2014
Kingspan CEO Gene Murtagh said the deal will give the company exposure to the residential sector in the US

Building products company Kingspan Group has announced a deal to buy the US building insulation business of Pactiv for $82 million. The Cavan-headquartered company's share price jumped 3.3 per cent following the announcement.

Pactiv produces insulation products under the GreenGuard brand which it supplies across the US from its base in Virginia.

The company has had sales of $84 million for the year to June and recorded an operating profit of $10 million.

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