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.

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.

Irish Construction firm Kingspan has been awarded more than $40m €33m in damages over its purchase of US company Tate in 2001.