Kingspan Group

History

Founded in the 1960s by Eugene Murtagh, the company floated on the Irish Stock Exchange in 1989 with a value of IR£20m. 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 and the construction division of ThyssenKrupp Steel in 2012. The year 2010 showed the first growth in sales for three years.

In 2005, the company announced the appointment of Gene Murtagh as its chief executive, making him the youngest CEO on the Irish Stock Exchange.

In April 2022, Kingspan announced its plan to build a new €280 million manufacturing plant in Ukraine.

In January 2024, the company acquired a 51 per cent stake in Steico for €250 million.

The insulation products sold by Kingspan in 2024 will, over the course of their expected lifespan of 60 years, save an estimated total of 172,000,000 tonnes of co2e.

In October 2025, Kingspan's data centre subsidiary, Tate, announced a $61.2 million investment to open a North American manufacturing plant in Glasgow, Kentucky. It was expected that the project would create 400 new full-time manufacturing jobs once the 764,000 ft2 facility was fully operational.

Acquisitions

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. 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.

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.

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

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. As part of programme, the company announced its target to reduce carbon emissions by 90 per cent by 2030. One carbon target is to achieve net zero carbon manufacturing and a '50% reduction in product CO2 intensity from primary supply partners'. One circularity target is to upcycle 1 billion PET bottles into insulation by 2025, up from 256 million in 2018.

In 2023, the company reported a 26 per cent reduction in carbon emissions since 2020.

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

Controversies

Grenfell Tower fire

Main article: Grenfell Tower Inquiry#November 2020

The Phase 1 Report of the Grenfell Inquiry stated that "the principal reason" for rapid fire spread on Grenfell was the unsafe ACM rainscreen with a plastic-core, which had been used as an external rainscreen on the Tower.

Although Zinc rainscreen products were originally specified, the plastic-cored ACM panels were selected after the architect came under pressure "from the client regarding the costs with suggestions flagged of using aluminium. We (and the Planners) would much rather see zinc up there".

In November 2020, the official inquiry into the 2017 Grenfell Tower Fire heard evidence from Kingspan ex-technical project manager Ivor Meredith testified that Kingspan insulation product Kooltherm K15 was used as a small portion of the insulation component behind the rainscreen mounted on to Grenfell Tower. Around 5% of the insulation in the cladding on the tower was manufactured by Kingspan whilst the rest was manufactured by Celotex, a subsidiary of Saint Gobain. 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".

Also in November 2020, the inquiry learned that Kingspan employee 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]".

Kingspan subsequently issued a statement: "A small number of internal communications used language, and expressed sentiments on fire safety, that were totally unprofessional and utterly unacceptable. We have apologised and taken robust action to prevent any such behaviour from happening again. Further, as Kingspan has explained to the Inquiry:

• Following the change from “old technology” K15 to “new technology” K15 in 2006, it should have carried out a replacement of the 2005 BS 8414 test with "new technology" K15
• It should have made it clear that the two BS8414 tests carried out in March and July 2014 incorporated R&D variants of K15 rather than the standard K15 sold at that time
• Aspects of early versions on the LABC and BBA certificates were capable of being misunderstood and that such issues should have been drawn to the attention of the issuing bodies.

We have introduced measures that ensure the regime around fire safety tests meets the highest standards and is industry ‘best practice’."

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.

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.

On 9 December 2020, the inquiry was told that after the Grenfell fire, Kingspan had invested in a campaign to demonstrate that some non-combustible insulation would have reacted similarly to combustible insulation when used in conjunction with ACM. The campaign involved using non-standard test rigs to demonstrate that non-combustible products might in fact be flammable, and hiring lobbyists to present the results before policymakers such as the Housing, Communities and Local Government Committee and other MPs.

On 4 September 2024, the final report of Grenfell Tower Inquiry found Kingspan's "dishonest marketing" of its K15 product had "created the conditions" for Celotex, another insulation company, to target the market by "dishonest means". Kingspan had "long-running internal discussions about what it could get away with" that "betrayed no concern for accuracy", the report said.

Mercedes Formula 1 team sponsorship controversy

On 1 December 2021, the Mercedes F1 team signed a sponsorship deal with the Kingspan Group. The sponsorship debut was during the Saudi Arabia Grand Prix, which was held on the 3rd to the 5th of December 2021, the weekend that preceded the commencement of testimony by staff of the Department for Levelling Up, Housing and Communities (DLUHC) staff at the Grenfell Tower Inquiry. The Mercedes-Kingspan Group deal attracted criticism from then-minister for the Department for Levelling Up, Housing and Communities, Michael Gove.

Grenfell United, a group composed of the survivors of the Grenfell Fire also criticised the sponsorship. Mercedes subsequently agreed to review its decision and Mercedes F1 team boss, Toto Wolff, offered to meet and listen to the Grenfell fire survivors. On 8 December 2021, it was announced the deal between Kingspan and Mercedes F1 Team had been terminated with immediate effect.

References

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