A €26.95 MILLION payment to building materials and insulation producer Kingspan on the last day of 2004 ends its legal battles arising from the acquisition of the Tate Global Corporation in the US.

The ISEQ index has made a strong start to 2005 as shares surged 107.42 today to 6,305.25.

Construction giant Kingspan today announced a settlement agreement in the company's dispute with US flooring group Tate Global Corporation.

KINGSPAN Group, the largest Irish maker of flooring and insulation boards, has been awarded $40.1 million (€33.9 million) in damages in a major US judgment.