Kingspan Group Explained

Kingspan Group plc
Type:Public limited company
Foundation:1966
Location:Kingscourt, County Cavan, Ireland
Key People:Eugene Murtagh, Founder
Gene Murtagh, CEO
Revenue: € 8,340.9 million (2022)[1]
Operating Income: € 784.3 million (2022)
Net Income: € 616.0 million (2022)
Num Employees:22,000+ (2022)[2]
Products:Insulated panels and facades, Insulation, Structural, Solar and Renewables Engineered Timber Systems, Access Floors, Wind Turbines, Septic Tanks
Homepage:www.kingspan.com/

Kingspan Group plc is a building materials company based in Ireland, trading in over 80 countries with more than 210 factories employing over 22,000 people. The company operates with six divisions; Insulated Panels, Insulation, Light & Air, Water & Energy, and, Data & Flooring, Roof & Waterproofing.[3]

History

Founded in the 1960s by Eugene Murtagh, the company floated on the Irish Stock Exchange in 1989 with a value of IR£20m.[4] It expanded into insulated panels and rigid insulation boards via numerous greenfield plants and acquisitions, including the European insulation arm of CRH plc in 2010[5] and the construction division of ThyssenKrupp Steel in 2012.[6] The year 2010 showed the first growth in sales for three years.[7]

Acquisitions

!Year!Business!Company Name(s)
1973Insulated PanelsSec-Form[8]
1980InsulationShelter Insulation[9]
1986-Torvale Group Ltd.
1990-Kuiper van der Jooij's
1990-Plaschem
1991InsulationCoolag
1996InsulationKooltherm Insulated Ltd.[10]
1996Water & EnergyTitan Tanks, Polmeric and Armet Plastics[11]
1998-Ward Building Components[12]
1998Data & FlooringHewetson Plc (USA), Durabella (UK)[13] [14]
2000Water & EnergyKlargester, Plastech, Ferham, Entec[15]
2001Data & FlooringTate Global Corporation[16]
2006Insulated PanelsZer–O–Loc[17]
2007Insulated PanelsColdmatic Building Systems
2007RenewablesThermomax solar vacuum tube[18]
2008Insulated PanelsMetecno[19]
2009InsulationAIR-CELL Innovations Pty[20]
2011RenewablesPROVEN Energy Ltd[21]
2011InsulationCRH Insulation Europe (CIE)[22]
2012Insulated PanelsThyssenKrupp Construction Group, Rigidal Industries LLC[23]
2014Insulated PanelsPactiv Corp North American building products[24]
2014InsulationPAL[25]
2015InsulationTarec, SPU Oy[26]
2015Exterior Building ProductsVicwest[27]
2015Insulated PanelsJoris Ide (Belgium)[28]
2016Light & AirEssmann (Germany), STG Beikirch (Germany), Ecodis (France), Bristolite (USA)[29] [30] [31] [32]
2017Insulated PanelsIsoeste (Brazil)[33]
2017Light & AirBrakel (Netherlands)[34]
2018Insulated Panels, InsulationSynthesia Group (Spain, Latin America)[35]
2018Insulated Panels, InsulationBalex Metal sp. z.o.o (Poland)
2019Insulated PanelsGroup Bacacier SAS[36]
2020Light & AirColt Group[37]
2021Light & AirMajor Industries (USA), Solatube International (USA), Skydome (France), Essemes Services (France)[38] [39] [40]
2023Insulated PanelsAlaço [41]
2023InsulationHempFlax Building Solutions GmbH [42]
2024InsulationSTEICO SE [43]

Commitments

Innovation

Kingspan Group's new global innovation centre, 'IKON', opened in 2019 in Kingscourt, Ireland, next to the head office. Designed by 'MILLIMETRE DESIGN' (Dublin), it comprises 18 Kingspan products serving as a 'state-of-the-art' place of research and living research project.[44] [45] The facility has been modelled with a Digital Twin and leverages input from sensors, IoT devices, Virtual Reality (VR), Autodesk Forge and BIM Data to further enhance operational efficiency.[46]

Sustainability

Approximately 39% of all greenhouse gas (CO2 and CO2e) emissions globally come from construction and buildings in operation, so it is vital that more buildings decarbonise by incorporating insulation and using increasingly energy-efficient appliances.[47]

In 2020, Kingspan Group achieved its fourth appearance on CDP’s prestigious ‘A-list’ for climate change.[48] [49] [50] Joining the Renewable Energy 100 (RE100) initiative in 2010, the Group achieved Net Zero Energy across all manufacturing and office facilities globally by 2019.[51] In 2019, the Group joined the Circular Economy 100 (CE100) initiative as a member.[52]

Kingspan Group also launched its 10-year ‘Planet Passionate’ sustainability programme in 2019, consisting of twelve targets focused on the four key areas of; Energy, Carbon, Circularity and Water.[53] One carbon target is to achieve net zero carbon manufacturing and a '50% reduction in product CO2 intensity from primary supply partners'.[54] One circularity target is to upcycle 1 billion PET bottles into insulation by 2025, up from 256 million in 2018.[55]

Kingspan Group have over 120 manufacturing sites, which are spread across 70 different countries. [56]

Grenfell Tower fire

In November 2020, the official inquiry into the 2017 Grenfell Tower Fire heard evidence from Kingspan ex-technical director Ivor Meredith that Kingspan insulation product Kooltherm K15 was used in the flammable cladding system mounted on to Grenfell Tower, despite Kingspan knowing that the product did not meet the required fire standard.[57] [58] [59] Around 5% of the insulation in the cladding on the tower was manufactured by Kingspan whilst the rest was manufactured by a major competitor.[60] A previous version of the product had passed fire tests, but Meredith described a fire test using the version of the product used on Grenfell as a "raging inferno", with the insulation "burning on its own steam".[57]

Also in November 2020, the inquiry learned that Kingspan director Philip Heath had said, in 2008, that consultants who raised concerns about the combustibility of its product could "go f*ck themselves", and that they were "getting me confused with someone who gives a dam [sic]".[61]

Near the end of November 2020, it emerged that Kingspan executives had sold at least £6.5M of shares in the company shortly before Kingspan's inquiry hearings were due to start.[62] Kingspan's share price fell 15% over the course of the hearings.[63]

On 8 December 2020, the inquiry saw evidence that in November 2016, Kingspan technical staff had acknowledged internally that Kingspan was selling its Kooltherm K15 foam insulation product as less flammable than it really was.[64] [65] [66] [67] [68]

On 9 December 2020, the inquiry was told that after the Grenfell fire, Kingspan had invested in a smear campaign against rival companies' products. The campaign involved secretly using non-standard test rigs to artificially create the appearance that non-flammable rival products might in fact be flammable, and hiring lobbyists to push the results before policymakers such as the Housing, Communities and Local Government Committee and other MPs.[69] [70] [71] [72]

Mercedes Formula One Team sponsorship controversy

On 1 December 2021, the Mercedes F1 team signed a sponsorship deal with the Kingspan Group. This announcement proved controversial due to Kingspan being under scrutiny due to the Grenfell Tower inquiry. The Mercedes-Kingspan Group deal attracted criticism from Grenfell United (survivors of the Grenfell Tower fire in which 72 people were killed) and then-UK government minister Michael Gove. Mercedes subsequently agreed to review its decision and Mercedes F1 team boss, Toto Wolff, offered to meet and listen to the Grenfell fire survivors.[73] On 8 December 2021, it was announced the deal between Kingspan and Mercedes F1 Team had been terminated with immediate effect.[74]

See also

Notes and References

  1. Web site: Annual Results 2022. Kingspan. 16 February 2023.
  2. Web site: About us. Kingspan. 28 March 2023.
  3. Web site: Who are we. 18 Feb 2023. Kingspan Group. 18 Feb 2023.
  4. News: Murtagh takes bumpy ride east with Kingspan. 28 May 2004. The Irish Times. 24 January 2016.
  5. Web site: Kingspan acquires CRH insulation unit for €120m. Independent.ie. 24 January 2016.
  6. Web site: Kingspan buys ThyssenKrupp Construction. 24 January 2016.
  7. Web site: Kingspan sees first growth in three years. 28 February 2011. RTE.ie. 24 January 2016.
  8. Web site: Our History. 13 February 2021.
  9. Web site: KINGSPAN INSULATION LIMITED. 13 February 2021. find-and-update.company-information.service.gov.uk.
  10. Web site: Kingspan buys Welsh firm for £9.5 million. 13 February 2021. Irish Times.
  11. Web site: Essential Product Guide. 13 February 2021. cms.esi.info.
  12. Web site: Kingspan set to win the battle for Ward. 13 February 2021. Irish Times.
  13. Web site: Kingspan acquires US flooring firm for $120 million. 13 February 2021. Irish Times.
  14. Web site: Kingspan buys UK flooring company. 13 February 2021. Irish Times.
  15. Web site: Kingspan Group PLC Financial Results 2001. 13 February 2021. investegate.co.uk.
  16. Web site: Kingspan Buys US Flooring Firm Tate For $120m. 13 February 2021. rte.ie.
  17. Web site: OLYMPIC WALL SYSTEMS. 13 February 2021. zippia.com.
  18. Web site: Kingspan Solar expands into US. 13 February 2021. heatingandventilating.net.
  19. Web site: Kingspan acquires U.S. panel maker Metecno. 13 February 2021. Reuters.com.
  20. Web site: Kingspan Insulation buys Air-Cell Innovations in Australia. 13 February 2021. utech-polyurethane.com.
  21. Web site: Kingspan Renewables buys troubled Proven Energy. 13 February 2021. insider.co.uk.
  22. Web site: Kingspan acquires CRH insulation unit for €120m. 13 February 2021. Independent.ie.
  23. Web site: Kingspan buys ThyssenKrupp Construction. 13 February 2021. theconstructionindex.co.uk.
  24. Web site: Kingspan completes $82 million acquisition of Pactiv. 13 February 2021. Irish Times.
  25. News: Kingspan to cut back on acquisitions. Irish Times. 24 February 2015. 26 February 2021.
  26. Web site: Kingspan buys out Recticel partner in Euro8.5m deal. 13 February 2021. globalinsulation.com.
  27. Web site: Kingspan Group PLC acquires Vicwest for US$350 million and immediately sells Vicwest's Westeel Division for US$221.5 million to AG Growth International . 2022-05-12 . www.fasken.com . en.
  28. Web site: Kingspan buys Belgium's Joris Ide for €315m. 13 February 2021. rte.ie.
  29. Web site: Kingspan acquisition of Essmann Group. 13 February 2021. iflr1000.com.
  30. Web site: Kingspan Light & Air makes towers smoke safe. 13 February 2021. buildingconstructiondesign.co.uk.
  31. Web site: Kingspan rachète Essmann Group et sa filiale française Ecodis. 13 February 2021. greenunivers.com.
  32. Web site: Kingspan spends €35m on US acquisition. 13 February 2021. Irish Times.
  33. Web site: Kingspan buys 51pc stake in Brazilian company Isoeste. 13 February 2021. Independent.ie.
  34. Web site: Kingspan purchases Dutch glazing specialist. 13 February 2021. independent.ie.
  35. Web site: Kingspan set to buy Spain's Synthesia group for €250m. 13 February 2021. rte.ie.
  36. Web site: Brexit hits Kingspan sales but still on track for growth. 13 February 2021. Irish Times.
  37. Web site: Colt to become part of the Kingspan Group. 13 February 2021. coltgroup.com.
  38. Web site: Kingspan Light + Air Acquires Major Industries. 7 June 2021. majorskylights.
  39. Web site: Kingspan spends €35m on US acquisition. 8 March 2022. bdocap.com.
  40. Web site: SMAC Completes Sale of Skydôme and Essemes Services Businesses to Kingspan Light + Air. 14 April 2021. www.citybiz.co.
  41. Web site: Kingspan Group acquires Alaço Kingspan Group . 2024-05-15 . www.kingspangroup.com.
  42. Web site: hochhardt . 2021-08-23 . Company . 2024-05-15 . Thermo-Hanf . en-US.
  43. Web site: Acquisition of STEICO SE Kingspan Group . 2024-05-15 . www.kingspangroup.com.
  44. Web site: Kingspan New Global Innovation Centre IKON. 17 February 2021. premierconstructionnews.com.
  45. Web site: IKON - Kingspan's Innovation Centre. 17 February 2021.
  46. Web site: Kingspan opens new IKON Global Innovation Centre. 17 February 2021. irishbuildingmagazine.ie.
  47. Web site: New report: the building and construction sector can reach net zero carbon emissions by 2050. 17 February 2021. worldgbc.org.
  48. Web site: Search and view past CDP responses Kingspan Group PLC. 17 February 2021. cdp.net.
  49. Web site: Four Irish firms make global environmental CDP 'A' list. 17 February 2021. rte.ie.
  50. Web site: Kingspan only Irish firm to achieve 'A' rating in global climate survey. 17 February 2021. independent.ie.
  51. Web site: Celebrating success: Kingspan surpasses 2016 target on the way to 100% renewable power - News. 17 February 2021. there100.org.
  52. Web site: The CE100 welcomes six new members. 17 February 2021. ellenmacarthurfoundation.org.
  53. Web site: Planet plan: Kingspan's 10-year bid to go green. 17 February 2021. independent.ie.
  54. Web site: Global building industry leader Kingspan launches plans to tackle climate change. 17 February 2021. greenbuilding.co.uk.
  55. Web site: Kingspan targets net zero carbon manufacturing by 2030. 17 February 2021. constructionmanagermagazine.com.
  56. Web site: Kingspan Insulation. 13 April 2023. tradeinsulations.co.uk.
  57. Web site: Grenfell Tower: Cladding firm 'stretched the truth' on fire safety . BBC. 24 November 2020.
  58. Web site: Irish insulation manufacturer Kingspan changed the make-up of its Kooltherm K15 insulation after 2005 without amending the marketing material stating it was suitable for use on buildings over 18 metres and had passed a relevant fire test, the inquiry has heard. The new version of the phenolic foam insulation – referred to as “new technology” versus “old technology” in proceedings – failed a subsequent fire test in December 2007 held by the Building Research Establishment (BRE). Internal Kingspan analysis at the time noted: “The new technology phenolic is very different in a fire situation to the previous technology which has passed several similar tests. The phenolic burnt very ferociously and gave the top cavity barrier a serious hammering.”. Kingspan insulation product used on Grenfell Tower failed 2007 fire test. Thomas . Hornall . The Irish News . 2020-11-30.
  59. Web site: Kingspan sold its Kooltherm K15 insulation with an unrepresentative fire certificate based on a 2005 test which claimed it was safe for use on buildings higher than 18m. The product sold from 2006 onwards was different from that tested the year before, but the firm kept selling it using the old technology's test pass and only withdrew this certification in October [2020].. Kingspan exec admits delay in informing public of misleading fire certification at Grenfell inquiry . 2020-12-07. RTE.
  60. Web site: 10 January 2022 . UK gives housebuilders huge bill to remove cladding . 1 May 2022 . RTE.ie/news.
  61. Web site: Grenfell inquiry: Kingspan manager said fire consultants could 'go f*ck themselves'. Ian. Weinfass. December 1, 2020.
  62. Web site: Kingspan directors cashed in £6m of shares before airing of Grenfell claims. Robert Booth Social affairs. correspondent. November 27, 2020. www.theguardian.com.
  63. Web site: Director of Grenfell firm quits after evidence it used outdated fire tests. December 17, 2020. the Guardian.
  64. Web site: Staff at insulation firm that supplied Grenfell Tower materials joked about product test 'lies'. December 8, 2020. The Independent.
  65. Web site: Staff joked safety claims about material used on Grenfell were 'all lies', inquiry told. 2020-12-08. 2020-12-08. Robert. Booth. The Guardian. In a November 2016 text chat Peter Moss, a member of [Kingspan's] technical team, asked his colleague Arron Chalmers, about the fire performance of [Kooltherm K15] foam insulation, which was marketed as having a class-0 rating – the safest for spread of flames across the surface of a product.
    After telling Moss that it was class 0, Chalmers added: 'Doesn't actually get class 0 when we test the whole product tho. LOL.'
    Moss replied: 'WHAT. We lied? Honest opinion now.'
    Chalmers said: 'Yeahhhh. Tested K15 as a whole – got class 1 [a worse performance]. Whey. Lol.'
    Moss's response was: 'Shit product. Scrap it.'
    Chalmers then explained that it was 'worded in such a way that it 'implies' the facing can give you class 0 … But don't tell anyone that.'
    Moss then quoted the Kingspan marketing literature: 'Kingspan Kooltherm K15 is class 0 (non combustible).'
    Chalmers said: 'All lies mate … Alls we do is lie in here'.-->.
  66. Web site: Kingspan boss denies putting occupants of K15 towers at risk, Grenfell Inquiry hears. Elizabeth. Hopkirk. 2020-12-08. 2020-12-08. Building.
  67. Web site: Grenfell Inquiry: Another uncomfortable week for Kingspan . Jim . Dunton . Tom . Lowe . 2020-12-08 . 2020-12-08 . Building.
  68. Web site: Grenfell contractors 'joked about "lies" over how combustible insulation was'. December 9, 2020.
  69. Web site: Booth . Robert . Firm rigged tests of rival product after Grenfell blaze, inquiry told . the Guardian . 2020-12-09 . 2020-12-09.
  70. Web site: Kingspan lobbied MPs with 'rigged' fire tests. C. N.. Staff. December 10, 2020.
  71. Web site: Kingspan hired lobbyists and 'gamed' tests in aftermath of Grenfell fire, inquiry told. Elizabeth. Hopkirk2020-12-10T07:29:00+00:00. Building.
  72. Web site: Kingspan lobbied MPs with 'gamed' test results of rival insulation products. Will. Ing. December 10, 2020.
  73. Web site: Grenfell Tower: Rethink deal with insulation firm, Mercedes F1 urged. 3 December 2021. www.bbc.co.uk.
  74. Web site: Mercedes and Kingspan end sponsorship deal. . www.bbc.co.uk . BBC Sport . 8 December 2021.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Kingspan Group".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.