US panel awards Kingspan $40m

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.

The group’s shares hit a year’s high after the news broke and further price gains are on the cards, said Davy Stockbrokers in a two-page analysis of the judgment.

The $40m award has been made on the back of the purchase in 2000 of the Tate Global Corporation.