Kingspan Group

Last updated
Kingspan Group plc
Type Public limited company
ISIN IE0004927939
Founded1966
Headquarters Kingscourt, County Cavan, Ireland
Key people
Eugene Murtagh, Founder
Gene Murtagh, CEO
Products Insulated panels and facades, Insulation, Structural, Solar and Renewables Engineered Timber Systems, Access Floors, Wind Turbines, Septic Tanks
RevenueIncrease2.svg 8,340.9 million (2022) [1]
Increase2.svg 784.3 million (2022) [1]
Increase2.svg 616.0 million (2022) [1]
Number of employees
22,000+ (2022) [2]
Website 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]

Contents

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

YearBusinessCompany Name(s)
1973Insulated PanelsSec-Form [8]
1980InsulationShelter Insulation [9]
1986-Torvale Group Ltd. [8]
1990-Kuiper van der Jooij's [8]
1990-Plaschem [9]
1991InsulationCoolag [8]
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 [17]
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) [35]
2019Insulated PanelsGroup Bacacier SAS [36]
2020Light & Air Colt Group [37]
2021Light & AirMajor Industries (USA), Solatube International (USA), Skydome (France), Essemes Services (France) [38] [39]

[40]

Commitments

Kingspan Head Office in Kingscourt, Ireland Kingspan Head Office in Kingscourt Ireland.jpg
Kingspan Head Office in Kingscourt, Ireland

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. [41] [42] 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. [43]

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. [44]

In 2020, Kingspan Group achieved its fourth appearance on CDP’s prestigious ‘A-list’ for climate change. [45] [46] [47] Joining the Renewable Energy 100 (RE100) initiative in 2010, the Group achieved Net Zero Energy across all manufacturing and office facilities globally by 2019. [48] In 2019, the Group joined the Circular Economy 100 (CE100) initiative as a member. [49]

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. [50] One carbon target is to achieve net zero carbon manufacturing and a '50% reduction in product CO2 intensity from primary supply partners'. [51] One circularity target is to upcycle 1 billion PET bottles into insulation by 2025, up from 256 million in 2018. [52]

Kingspan Group have over 120 manufacturing sites, which are spread across 70 different countries. [53]

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. [54] [55] [56] Around 5% of the insulation in the cladding on the tower was manufactured by Kingspan whilst the rest was manufactured by a major competitor. [57] 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". [54]

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]". [58]

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. [59] Kingspan's share price fell 15% over the course of the hearings. [60]

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. [61] [62] [63] [64] [65]

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. [66] [67] [68] [69]

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. [70] On 8 December 2021, it was announced the deal between Kingspan and Mercedes F1 Team had been terminated with immediate effect. [71]

See also

Related Research Articles

Breffni Park, known for sponsorship reasons as Kingspan Breffni, is a GAA stadium in Cavan, Ireland. It is the home of Cavan GAA. The ground has an overall capacity of about 25,030 with a 5,030 seated capacity. Breffni is the historic name for the area of counties Cavan and Leitrim. Cavan is often referred to as the Breffni County. Kingspan Breffni is located on Park Lane to the south of Cavan town. Breffni Park hosted the first test in the 2006 Ladies' International Rules Series between Ireland and Australia. It also hosted the first test during the 2013 International Rules Series.

<span class="mw-page-title-main">Polyisocyanurate</span> Type of plastic typically used for thermal insulation

Polyisocyanurate, also referred to as PIR, polyiso, or ISO, is a thermoset plastic typically produced as a foam and used as rigid thermal insulation. The starting materials are similar to those used in polyurethane (PUR) except that the proportion of methylene diphenyl diisocyanate (MDI) is higher and a polyester-derived polyol is used in the reaction instead of a polyether polyol. The resulting chemical structure is significantly different, with the isocyanate groups on the MDI trimerising to form isocyanurate groups which the polyols link together, giving a complex polymeric structure.

<span class="mw-page-title-main">Berkeley Group Holdings</span> British property developer and house builder

The Berkeley Group Holdings plc is a British property developer and house-builder based in Cobham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">Joseph Leckie Academy</span> Academy in Walsall, West Midlands, England

Converter Academy

Mannok, formerly the QUINN group, is a business group headquartered in Derrylin, County Fermanagh, Northern Ireland. The group has ventured into cement and concrete products, container glass, general insurance, radiators, plastics, hotels, and real estate. It was formed by Seán Quinn in 1973, developing from a small quarrying operation in Derrylin into a large organization, employing over 8,000 people in various locations throughout Europe.

<span class="mw-page-title-main">Grenfell Centre</span> High rise building in Adelaide, South Australia

Grenfell Centre, formerly known as Oracle House and JLW Building, nicknamed Black Stump, is a high rise office building located at 25 Grenfell Street in the Adelaide city centre, South Australia.

Mercedes-Benz, a brand of the Mercedes-Benz Group, has been involved in Formula One as both team owner and engine manufacturer for various periods since 1954. The current Mercedes-AMG Petronas F1 Team is based in Brackley, England, and possesses a German licence. An announcement was made in December 2020 that Ineos planned to take a one third equal ownership stake alongside the Mercedes-Benz Group and Toto Wolff; this came into effect on 25 January 2022. Mercedes-branded teams are often referred to by the nickname, the "Silver Arrows".

<span class="mw-page-title-main">Cladding (construction)</span> Layer of one material over another

Cladding is the application of one material over another to provide a skin or layer. In construction, cladding is used to provide a degree of thermal insulation and weather resistance, and to improve the appearance of buildings. Cladding can be made of any of a wide range of materials including wood, metal, brick, vinyl, and composite materials that can include aluminium, wood, blends of cement and recycled polystyrene, wheat/rice straw fibres. Rainscreen cladding is a form of weather cladding designed to protect against the elements, but also offers thermal insulation. The cladding does not itself need to be waterproof, merely a control element: it may serve only to direct water or wind safely away in order to control run-off and prevent its infiltration into the building structure. Cladding may also be a control element for noise, either entering or escaping. Cladding can become a fire risk by design or material.

<span class="mw-page-title-main">Exova</span>

Exova Group plc was a laboratory-based testing company, operating primarily within the Testing segment of the Testing Inspection and Certification (“TIC”) sector. It was listed on the London Stock Exchange until it was acquired by Element Materials Technology in June 2017.

<span class="mw-page-title-main">Grenfell Tower fire</span> 2017 fire in West London

On 14 June 2017, a high-rise fire broke out in the 24-storey Grenfell Tower block of flats in North Kensington, West London, at 00:54 BST and burned for 60 hours. Seventy-two people died, two later in hospital, with more than 70 injured and 223 escaping. It was the deadliest structural fire in the United Kingdom since the 1988 Piper Alpha oil-platform disaster and the worst UK residential fire since World War II.

<span class="mw-page-title-main">Grenfell Tower</span> Residential building in London ravaged by fire in 2017

Grenfell Tower is a derelict 24-storey residential tower block in North Kensington in London, England. The tower was completed in 1974 as part of the first phase of the Lancaster West Estate. The tower was named after Grenfell Road, which ran to the south of the building; the road itself was named after Field Marshal Lord Grenfell, a senior British Army officer. Most of the tower was destroyed in a severe fire on 14 June 2017.

<span class="mw-page-title-main">Chalcots Estate</span> Housing estate in the London Borough of Camden

Chalcots Estate is a council housing estate on Adelaide Road and Fellows Road in Swiss Cottage in the London Borough of Camden. It was designed by Dennis Lennon and Partners. The Chalcots Estate was built on land owned by Eton College, which is reflected in the names of the individual buildings.

<span class="mw-page-title-main">Rydon</span> British construction company

Rydon is a British facilities management and property maintenance company which was founded in 1978. Its head office is in Dartford, Kent, and it has two maintenance offices in London. It had a turnover of around £51.9 million and employed an average of 423 people in the year to September 2022.

<span class="mw-page-title-main">Grenfell Tower Inquiry</span> Public inquiry into the Grenfell Tower fire

The Grenfell Tower Inquiry is a British public inquiry into the Grenfell Tower fire, which killed 72 people and destroyed Grenfell Tower on 14 June 2017. It was ordered by Prime Minister Theresa May on the day following the fire.

<span class="mw-page-title-main">Aftermath of the Grenfell Tower fire</span> Series of events following the Grenfell Tower fire in 2017

On 14 June 2017, the Grenfell Tower fire broke out in the 24-storey Grenfell Tower block of flats in North Kensington, West London, at 00:54 BST; it caused 72 deaths, including those of two victims who later died in hospital. More than 70 others were injured and 223 people missing. It was the deadliest structural fire in the United Kingdom since the 1988 Piper Alpha disaster and the worst UK residential fire since the Second World War.

Arconic Corporation is an American industrial company specializing in lightweight metals engineering and manufacturing. Its products are used worldwide in aerospace, automotive, packaging, oil and gas, building and construction, defense, commercial transportation, consumer electronics, and industrial applications.

<span class="mw-page-title-main">United Kingdom cladding crisis</span> Building material flammability issue

The United Kingdom cladding crisis, also known as the cladding scandal, is an ongoing social crisis that followed the Grenfell Tower fire of 14 June 2017 and the Bolton Cube fire of 15 November 2019. The fires revealed that large numbers of buildings had been clad in dangerously combustible materials, comprising a combination of flammable cladding and/or flammable insulation.

Celotex Corporation is a defunct American manufacturer of insulation and construction materials. It was the subject of a number of high-profile lawsuits over products containing asbestos in the 1980s, eventually declaring Chapter 11 bankruptcy in 1990.

The Grenfell Tower Inquiry is a British public inquiry into the Grenfell Tower fire, which killed 72 people and destroyed Grenfell Tower on 14 June 2017. It was ordered by Prime Minister Theresa May on the day following the fire.

<span class="mw-page-title-main">Criticism of the response to the Grenfell Tower fire</span> Criticism of the response to a 2017 fire in West London

Criticism of the response to the Grenfell Tower fire primarily consisted of condemnation of issues with the emergency response and fire safety regulation practices in the UK at the time. Broader political criticism was also directed at British society, including condemnation of the response by governmental bodies and UK politicians, social divisions, deregulation issues, and poor transparency overall.

References

  1. 1 2 3 "Annual Results 2022" (PDF). Kingspan. Retrieved 16 February 2023.
  2. "About us". Kingspan. Retrieved 28 March 2023.
  3. "Who are we". Kingspan Group. 18 Feb 2023. Retrieved 18 Feb 2023.
  4. "Murtagh takes bumpy ride east with Kingspan". The Irish Times. 28 May 2004. Retrieved 24 January 2016.
  5. "Kingspan acquires CRH insulation unit for €120m". Independent.ie. Retrieved 24 January 2016.
  6. "Kingspan buys ThyssenKrupp Construction" . Retrieved 24 January 2016.
  7. "Kingspan sees first growth in three years". RTE.ie. 28 February 2011. Retrieved 24 January 2016.
  8. 1 2 3 4 "Our History" . Retrieved 13 February 2021.
  9. 1 2 "KINGSPAN INSULATION LIMITED". find-and-update.company-information.service.gov.uk. Retrieved 13 February 2021.
  10. "Kingspan buys Welsh firm for £9.5 million". Irish Times. Retrieved 13 February 2021.
  11. "Essential Product Guide" (PDF). cms.esi.info. Retrieved 13 February 2021.
  12. "Kingspan set to win the battle for Ward". Irish Times. Retrieved 13 February 2021.
  13. "Kingspan acquires US flooring firm for $120 million". Irish Times. Retrieved 13 February 2021.
  14. "Kingspan buys UK flooring company". Irish Times. Retrieved 13 February 2021.
  15. "Kingspan Group PLC Financial Results 2001". investegate.co.uk. Retrieved 13 February 2021.
  16. "Kingspan Buys US Flooring Firm Tate For $120m". rte.ie. Retrieved 13 February 2021.
  17. 1 2 "OLYMPIC WALL SYSTEMS". zippia.com. Retrieved 13 February 2021.
  18. "Kingspan Solar expands into US". heatingandventilating.net. Retrieved 13 February 2021.
  19. "Kingspan acquires U.S. panel maker Metecno". Reuters.com. Retrieved 13 February 2021.
  20. "Kingspan Insulation buys Air-Cell Innovations in Australia". utech-polyurethane.com. Retrieved 13 February 2021.
  21. "Kingspan Renewables buys troubled Proven Energy". insider.co.uk. Retrieved 13 February 2021.
  22. "Kingspan acquires CRH insulation unit for €120m". Independent.ie. Retrieved 13 February 2021.
  23. "Kingspan buys ThyssenKrupp Construction". theconstructionindex.co.uk. Retrieved 13 February 2021.
  24. "Kingspan completes $82 million acquisition of Pactiv". Irish Times. Retrieved 13 February 2021.
  25. "Kingspan to cut back on acquisitions". Irish Times. 24 February 2015. Retrieved 26 February 2021.
  26. "Kingspan buys out Recticel partner in Euro8.5m deal". globalinsulation.com. Retrieved 13 February 2021.
  27. "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". www.fasken.com. Retrieved 2022-05-12.
  28. "Kingspan buys Belgium's Joris Ide for €315m". rte.ie. Retrieved 13 February 2021.
  29. "Kingspan acquisition of Essmann Group". iflr1000.com. Retrieved 13 February 2021.
  30. "Kingspan Light & Air makes towers smoke safe". buildingconstructiondesign.co.uk. Retrieved 13 February 2021.
  31. "Kingspan rachète Essmann Group et sa filiale française Ecodis". greenunivers.com. Retrieved 13 February 2021.
  32. "Kingspan spends €35m on US acquisition". Irish Times. Retrieved 13 February 2021.
  33. "Kingspan buys 51pc stake in Brazilian company Isoeste". Independent.ie. Retrieved 13 February 2021.
  34. "Kingspan purchases Dutch glazing specialist". independent.ie. Retrieved 13 February 2021.
  35. 1 2 "Kingspan set to buy Spain's Synthesia group for €250m". rte.ie. Retrieved 13 February 2021.
  36. "Brexit hits Kingspan sales but still on track for growth". Irish Times. Retrieved 13 February 2021.
  37. "Colt to become part of the Kingspan Group". coltgroup.com. Retrieved 13 February 2021.
  38. "Kingspan Light + Air Acquires Major Industries". majorskylights. Retrieved 7 June 2021.
  39. "Kingspan spends €35m on US acquisition". bdocap.com. Retrieved 8 March 2022.
  40. "SMAC Completes Sale of Skydôme and Essemes Services Businesses to Kingspan Light + Air". www.citybiz.co. Retrieved 14 April 2021.
  41. "Kingspan New Global Innovation Centre IKON". premierconstructionnews.com. Retrieved 17 February 2021.
  42. "IKON - Kingspan's Innovation Centre" . Retrieved 17 February 2021.
  43. "Kingspan opens new IKON Global Innovation Centre". irishbuildingmagazine.ie. Retrieved 17 February 2021.
  44. "New report: the building and construction sector can reach net zero carbon emissions by 2050". worldgbc.org. Retrieved 17 February 2021.
  45. "Search and view past CDP responses Kingspan Group PLC". cdp.net. Retrieved 17 February 2021.
  46. "Four Irish firms make global environmental CDP 'A' list". rte.ie. Retrieved 17 February 2021.
  47. "Kingspan only Irish firm to achieve 'A' rating in global climate survey". independent.ie. Retrieved 17 February 2021.
  48. "Celebrating success: Kingspan surpasses 2016 target on the way to 100% renewable power - News". there100.org. Retrieved 17 February 2021.
  49. "The CE100 welcomes six new members". ellenmacarthurfoundation.org. Retrieved 17 February 2021.
  50. "Planet plan: Kingspan's 10-year bid to go green". independent.ie. Retrieved 17 February 2021.
  51. "Global building industry leader Kingspan launches plans to tackle climate change". greenbuilding.co.uk. Retrieved 17 February 2021.
  52. "Kingspan targets net zero carbon manufacturing by 2030". constructionmanagermagazine.com. Retrieved 17 February 2021.
  53. "Kingspan Insulation". tradeinsulations.co.uk. Retrieved 13 April 2023.
  54. 1 2 "Grenfell Tower: Cladding firm 'stretched the truth' on fire safety". BBC. Retrieved 24 November 2020.
  55. Hornall, Thomas (2020-11-30). "Kingspan insulation product used on Grenfell Tower failed 2007 fire test". The Irish News. 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."
  56. "Kingspan exec admits delay in informing public of misleading fire certification at Grenfell inquiry". RTE. 2020-12-07. 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].
  57. "UK gives housebuilders huge bill to remove cladding". RTE.ie/news. 10 January 2022. Retrieved 1 May 2022.
  58. Weinfass, Ian (December 1, 2020). "Grenfell inquiry: Kingspan manager said fire consultants could 'go f*ck themselves'".
  59. correspondent, Robert Booth Social affairs (November 27, 2020). "Kingspan directors cashed in £6m of shares before airing of Grenfell claims" via www.theguardian.com.
  60. "Director of Grenfell firm quits after evidence it used outdated fire tests". the Guardian. December 17, 2020.
  61. "Staff at insulation firm that supplied Grenfell Tower materials joked about product test 'lies'". The Independent. December 8, 2020.
  62. Booth, Robert (2020-12-08). "Staff joked safety claims about material used on Grenfell were 'all lies', inquiry told". The Guardian. Retrieved 2020-12-08.
  63. Hopkirk, Elizabeth (2020-12-08). "Kingspan boss denies putting occupants of K15 towers at risk, Grenfell Inquiry hears". Building. Retrieved 2020-12-08.
  64. Dunton, Jim; Lowe, Tom (2020-12-08). "Grenfell Inquiry: Another uncomfortable week for Kingspan". Building. Retrieved 2020-12-08.
  65. "Grenfell contractors 'joked about "lies" over how combustible insulation was'". December 9, 2020.
  66. Booth, Robert (2020-12-09). "Firm rigged tests of rival product after Grenfell blaze, inquiry told". the Guardian. Retrieved 2020-12-09.
  67. Staff, C. N. (December 10, 2020). "Kingspan lobbied MPs with 'rigged' fire tests".
  68. Hopkirk2020-12-10T07:29:00+00:00, Elizabeth. "Kingspan hired lobbyists and 'gamed' tests in aftermath of Grenfell fire, inquiry told". Building.{{cite web}}: CS1 maint: numeric names: authors list (link)
  69. Ing, Will (December 10, 2020). "Kingspan lobbied MPs with 'gamed' test results of rival insulation products".
  70. "Grenfell Tower: Rethink deal with insulation firm, Mercedes F1 urged". 3 December 2021 via www.bbc.co.uk.
  71. "Mercedes and Kingspan end sponsorship deal". www.bbc.co.uk. BBC Sport. Retrieved 8 December 2021.