At the beginning of April 2022, Irish building materials group Kingspan Group plc (Kingscourt, Cavan) completed the sale of its Russian activities to local management, which had been in preparation since the beginning of March. These activities comprise the Russian national company Kingspan LLC with two production locations in Gatchina, Leningrad Oblast and Nevinnomysk, Stavropol Krai. The Gatchina plant, which produces sandwich panels, has been part of Kingspan since the acquisition of Belgian Joris Ide Group was completed at the beginning of 2016. At the time of the acquisition, Kingspan had actually announced its intention to double capacities in Russia in the medium term. A new sandwich panel facility was commissioned last year, and the next expansion investment was already planned for 2023.
Kingspan sells activities in Russia via MBO
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