Kingspan Group acquires majority stake in Steico SE ...United Arab Emirates

The Kingspan Group has acquired a 51% controlling stake in Germany-based Steico SE for approximately US $282mn. The firm said it has an option to acquire a further 10% of shares in the German company in the future. Steico specialises in natural insulation and wood-based building envelope products, and operates four large production sites comprising 27 lines in Poland and France, with additional capacity nearing completion. “The acquisition of a majority stake in Steico represents an exciting next step in our strategy to provide the full spectrum of insulation products. Its suite of wood-based building envelope solutions broadens our ability to enable our customers to meet their sustainabilit

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