Displaying items by tag: Kingspan
Kingspan launches Kooltherm brand in US
11 October 2016US: Kingspan Insulation has launched Kooltherm, its rigid thermoset insulation, in the US. The line offers a range of products for wall, floor, soffit and rainscreen applications. It has a fibre-free rigid thermoset phenolic insulation core that resists both moisture and water vapour ingress.
"Kingspan is committed to bringing its globally-innovative technology to the North American market," said Alswinn Kieboom, managing director, Kingspan Insulation North America. "As part of this continuing effort, we are excited to offer our Kooltherm insulation to the construction marketplace. Our class-leading R-value and fire resistance properties will prove to be beneficial to the construction community."
Kingspan Insulation starts expansion at Virginia plant
12 September 2016US: Kingspan Insulation has started an expansion project at its Winchester plant in Virginia. The US$25m investment in the plant will be used to install a new extruded polystyrene insulation (XPS) insulation manufacturing line.
"We are pleased to announce that the installation is proceeding on time and on cost," said Kingspan Insulation North America's Managing Director Alswinn Kieboom.
Once the project is completed, it will allow Kingspan Insulation to continue to service demand for its GreenGuard line of XPS board products. The products feature moisture resistance, an R-value of 5.0 per inch of thickness and are suitable for a range of applications including cavity walls, continuous insulation, roofs, below-grade perimeter foundation and slab-on-grade.
As part of this investment programme, Kingspan Insulation has announced its intent to begin production of high performance, polyiso insulation in North America, providing an even greater choice for specifiers and contractors.
Kingspan Insulation is currently considering locations for three new production lines. Locations under consideration are at its existing plant in Virginia, at its sister company sites in California, Florida, Ohio, as well as sites in Nevada and Texas in the US, plus Ontario and British Columbia.
UK: Kingspan’s sales revenue has risen by 19% year-on-year to Euro1.47bn in the first half of 2016 from Euro1.24bn in the same period in 2015. Its net profit rose by 83% to Euro126m from Euro82.4m. The insulation and building products manufacturer attributed the result to increased market penetration and growth though new acquisitions.
“These results reflect our strongest ever six month performance, underpinned by solid organic growth and a robust contribution from the Joris Ide and Vicwest businesses acquired last year. The expansion in profit margin has helped deliver a 50% increase in trading profit and, with good order intake momentum in the second quarter continuing into the current trading period, we expect a solid performance in the second half,” said Gene Murtagh, Chief Executive of Kingspan.
The company’s sales revenue from insulated panels rose by 26% to Euro950m from Euro753m, supported by sales in mainland Europe. Sales revenue from insulated boards rose by 9% to Euro947m from Euro319m driven by the UK
Kingspan to launch four more lower Lambda products
14 June 2016UK: Kingspan Insulation will launch four low lambda insulation products for floors, walls and soffits on 1 August 2016.
Kingspan Kooltherm K103 Floorboard, K110 and K110 PLUS Soffit Board and K118 Insulated Plasterboard feature a fibre-free insulation core, enabling them to achieve a thermal conductivity of 0.018W/m.K. The launch of the new products follows the release earlier in 2016 of Kingspan Kooltherm K106 and K108 Cavity Board.
All Kooltherm, Therma and KoolDuct insulation products and cavity closers manufactured at Kingspan Insulation’s facilities in Pembridge and Selby are certified to BES 6001 (Framework Standard for the Responsible Sourcing of Construction Products) ‘Excellent’.
UAE: Kingspan Insulation has started manufacturing its PalDuct Hydro System product, panels with a polyisocyanurate (PIR) insulation core faced with aluminium foil, at its plant in Dubai. The company has changed its manufacturing process by installing a pentane tank at the plant to make the product, according to Gulf Construction. The panels have a density of 48 - 50kg/m3 and in a thickness of either 20mm and 30mm. A company spokesman said that the product can be specified by engineers for projects required to comply with local regulations such as a Estidama in Abdu Dhabi.
Ireland: Kingspan has reported that its group sales rose by 25% year-on-year to Euro903m for the first four months of 2016. It also noted in an interim management statement that order placement in the non-residential segments in the UK had eased ahead of the referendum on European Union (EU) membership scheduled for late June 2016. Insulated panel sales rose by 37% in the period. Insulated board sales rose by 11% driven by strong UK sales and supported by Europe and the US.
Chief executive Gene Murtagh also said at the company’s annual general meeting on 5 May 2016 that the insulation producer had made an investment in a facility selling duct insulation in Iran. The unit is expected to be in production later in 2016 supported by the company‘s UAE business, according to the Irish Independent.
UAE: Kingspan Kooltherm and Kingspan KoolDuct products have ben awarded Dubai Central Laboratory (DCL) Product Conformity certification. The insulation products were manufactured at Kingspan’s plant in Pembridge, UK. DCL Product Conformity ensures that manufactured products adhere to requirements set by the Dubai Municipality.
"Having DCL Product Conformity means that the the Kooltherm range and KoolDuct products, alongside the PalDuct portfolio, carry the maximum potential for specification within projects across Dubai," said Sarmad Fakhri, managing director of Kingspan Insulation to Construction Week Online.
Kingspan revenue grows by 47% to Euro2.77bn in 2015
25 February 2016UK: Kingspan has reported that its revenue rose by 47% year-on-year to Euro2.77bn in 2015 from Euro1.89bn in 2014. Its profit after tax rose by 79% to Euro191m from Euro107m. It attributed the result to ‘strong’ organic growth in the UK, North America, Turkey and the Middle East, more than offsetting losses in some European markets and in Australasia.
“We are delighted to report a record performance for the group in 2015 and a strong start to 2016. The two major acquisitions completed last year have performed ahead of our expectations, with Joris Ide and Vicwest significantly expanding our presence in Continental Europe and North America respectively,” said Gene Murtagh, Chief Executive of Kingspan.
Firm announces $25m investment in Frederick plant
11 January 2016US: Kingspan has announced a US$25m investment for its Frederick County, Virginia insulation plant. It plans to add 15 new jobs, buy new equipment and upgrade the facility.
The plant has about 120 employees, according to Ed Bates, a Director of Manufacturing and Technology at Kingspan. "We're moving forward with the project," said Bates. "It's underway and we'll probably complete it in 2017. We've already initiated some hiring and we'll complete the hiring by 2018."
The Frederick County plant is Kingspan's only facility in the US that makes building wraps and insulation. The company, however, has other facilities in North America and around the world.
The uptick in the building industry factored into the expansion, according to Bates. "It's not back at the level it was at its peak in 2006, but we've seen a nice rebound in construction and there's high demand for insulation products due to their energy efficiency," said Bates. "It's a great time to invest."
Kingspan forecasts nearly 70% profit growth in 2015
11 November 2015Ireland: Kingspan has delivered a significantly better-than-expected full-year forecast, suggesting that its 2015 profits could increase by 68% to Euro250m, despite global economic confidence wavering. Insulated panels should show 53% revenue growth to Euro1.7bn in 2015.
Kingspan has reported a 44% year-on-year rise to Euro2bn in sales for the first nine months of 2015. The third quarter was particularly strong, with a 54% sales rise noted, which was boosted by the contribution of recent acquisitions. Sales in the UK, mainland Europe and the Americas, Kingspan's three main regional markets, soared by 54% in the first nine months of 2015. This performance was boosted by a 'solid' showing in the UK, 'steady' sales in Europe and strong growth in North America, particularly in the US.