Kingspan to acquire Vicwest Building Products for Â£98m
County Cavan-headquartered Kingspan is set to acquire the building products division of Canadian company Vicwest for 5m (£98m).
The building products division of the company comprises three manufacturing plants and a number of profiling facilities across Canada and the US.
Gene Murtagh, Kingspan chief executive, said the acquisition will boost Kingspan's ability to "drive conversion of the North American construction market to more energy-efficient insulated panels" at a time when the energy agenda in North America is "becoming increasingly persuasive".
Revenue for the business division for the 12 months to 31 December 2013 was 4m (£161m).
Post-acquisition, Kingspan plans to implement further changes in the BP business and the impact of these changes is expected to increase the annual pro forma EBITDA to m (£11.4m) from a projected m (£9.5m) for the current year.