Kingspan’s Power Move: Securing Majority Stake in Steico!

Kingspan Group plc Acquires Majority Stake in Steico SE, Expanding Presence in Natural Insulation Market

Kingspan Group plc, a leading global provider of high-performance insulation and building envelope solutions, has recently completed the acquisition of a majority stake (approximately 51%) in Steico SE from Schramek GmbH. This strategic move further solidifies Kingspan’s position in the market and expands its portfolio of sustainable building materials.

Steico SE, based in Germany, is renowned as the world leader in natural insulation and wood-based building envelope products. The company boasts a robust asset base, with four state-of-the-art production sites housing 27 production lines in Poland and France. Steico’s commitment to innovation and sustainability is evident in its ongoing investments, including the construction of additional capacity that is expected to generate up to Euro 200 million in revenue.

In exchange for the majority stake, Kingspan has issued 1,004,960 shares to Schramek GmbH. This mutually beneficial agreement allows both companies to leverage their respective strengths and capitalize on the growing demand for eco-friendly construction materials.

Steico’s audited operating revenues for the previous fiscal year amounted to Euro 445 million, highlighting the company’s strong financial performance and market presence. With this acquisition, Kingspan aims to further enhance its product offerings and provide customers with innovative, sustainable solutions that meet the evolving needs of the construction industry.

This strategic move aligns with Kingspan’s commitment to sustainability and its ambition to become a global leader in low-carbon building materials. By incorporating Steico’s natural insulation and wood-based products into its existing portfolio, Kingspan can offer customers a comprehensive range of environmentally friendly solutions that contribute to energy efficiency and reduce carbon emissions.

Furthermore, the acquisition of Steico allows Kingspan to expand its market reach and strengthen its presence in Europe. With Steico’s established customer base and distribution network, Kingspan can effectively serve a broader range of customers and accelerate its growth in key markets.

Commenting on the acquisition, Gene Murtagh, CEO of Kingspan Group, expressed his excitement about the partnership with Steico, emphasizing the shared commitment to sustainability and innovation. He stated, “This acquisition represents an important milestone for Kingspan as we continue our journey towards a more sustainable future. Steico’s expertise in natural insulation and wood-based building envelope products perfectly complements our existing offerings, enabling us to provide customers with a comprehensive range of sustainable solutions.”

The acquisition of Steico is in line with Kingspan’s long-term growth strategy, which focuses on expanding its product portfolio, entering new markets, and driving innovation. By investing in companies that share its vision for a more sustainable built environment, Kingspan aims to lead the industry in delivering low-carbon solutions that contribute to a greener future.

As the global demand for sustainable building materials continues to rise, Kingspan’s acquisition of Steico positions the company at the forefront of this growing market. With its expanded portfolio and strengthened market presence, Kingspan is well-positioned to meet the evolving needs of customers and drive positive change in the construction industry.

John O Mahony

John O Mahony

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