Kingspan loses €1.5bn in value amid UK minister's pressure on companies to pay building refurbishing costs

The British government have expressed their desire to get manufacturers of potentially dangerous cladding to pay for "a significant portion of the total remediation costs" for risky buildings.

Grenfell Tower: 72 people lost their lives in the June 2017 fire. The British government have expressed their desire to get manufacturers of potentially dangerous cladding to pay for "a significant portion of the total remediation costs" for risky buildings.

Kingspan which makes insulation panels lost around €1.5bn from its stock market value as it emerged that UK Housing Minister Michael Gove has stepped up his campaign to get manufacturers to pay for potentially dangerous cladding and insulation on buildings in Britain following the deadly 2017 fire at the Grenfell Tower  in London.

Mr Gove has written to British industry group, the Construction Products Association setting a March deadline for the manufacturers to reach an agreement on ways to pay for "a significant portion of the total remediation costs" for risky buildings. He had written a similar letter to property developers earlier this month.