Kingspan Group, one of the world’s largest manufacturers of premium and high performance rigid insulation materials, has acquired Australian company AIR-CELL Innovations Pty.
AIR-CELL, which had sales of A$23m (€14.35m) in the year to June 2009, is a distributor of flexible reflective insulation foil products.
The company, which has its headquarters in Perth, Western Australia, has an inter-state presence across the Australian market.
"The acquisition of the business and its comprehensive route to market adds a new product to Kingspan’s product portfolio, as well as presenting further opportunities to enhance Kingspan’s existing insulation board sales in the Australian and New Zealand markets,2 said a Kingspan statement.
"The current Australian regulatory environment should prove beneficial to insulation products in these markets in the coming years."