Kingspan, the global leader in building and insulation products, based in Cavan, has announced a very strategic move to further strengthen its position in Latin America by taking a 51 per cent shareholding in one of the leading makers of insulated metal panels at Santiago, Chile. This Monday marked another critical milestone in the company’s continued regional expansion.
This acquisition is part of the broader strategy of Kingspan to further extend its footprint in Latin America. The addition of Villalba brings the company’s total number of facilities in the region to 11. Kingspan’s expansion efforts in Latin America have been a focal point since the company first entered the market in 2017, with prior acquisitions in Colombia, Mexico, and Brazil.
Together with the acquisition of Villalba, Kingspan acquired 51% ownership in the Kingspan MV joint venture based in Asuncion, Paraguay. Together, these strategic investments underscore Kingspan’s commitment to growing its insulated panel business in the region, where it has already established a strong presence with operations in Colombia, Panama, Uruguay (two facilities), and Brazil (five facilities).
These investments have paid off for Kingspan, with annualized revenue coming to about € 500 million in Latin America. This is mainly due to revenues from its core business, the insulated panels division.
Now, Kingspan’s Chief Executive Officer, Gene Murtagh, has often spoken of the company’s desire to further enhance its Latin American market. Growing portfolio of facilities coupled with an effective market strategy makes it further easy for Kingspan to exploit the growth opportunities in the region in sectors, such as construction and insulation.
The expansion in Latin America is a push to strengthen the global presence for the company by expanding further into emerging economies, increasing demand for energy-efficient building solutions. Kingspan’s investments in the region serve to provide high-performance, sustainable insulation solutions to meet growing construction needs within the region, thereby contributing towards the overall direction of growth for the company.
