20th May 2015 08:09
LONDON (Alliance News) - Kingspan Group PLC Wednesday said it expects to complete its acquisition of Vicwest Building Products imminently after it agreed a deal with the Canadian Competition Bureau to dispose of the insulated metal panel facility at Hamilton, Ontario to allow the acquisition to proceed.
The Irish building insulation company had announced the acquisition of Vicwest's building products division last November, saying it would pay about CAD 154.5 million including debt and reorganisation costs. It had said at that time it intended to make changes in the business to raise annual earnings before interest, tax, depreciation and amortisation to about CAD18.0 million from about CAD15.0 million.
Kingspan shares were up 0.5% at EUR20.10 in London Wednesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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