Building materials group Kingspan has announced deals to buy two companies, one based in Europe and the other in the Middle East.
Kingspan has agreed to buy the various companies which make up the ThyssenKrupp Construction Group for about €65m.
€50m is payable in cash upon completion of the deal, while the other €15m represents assumed past service pension liabilities.
Its brands include Hoesch, Isocab and EMS and its plants are in Germany, France, Belgium, Austria and Hungary.
It reported sales of €315m in the year to the end of March and an operating loss of €5.7m.
The Co Cavan based company also said it was buying the entire share capital of Rigidal Industries, a manufacturer of composite panels and roofing systems and which is based in Dubai.
It had sales of $39m in the year to June 2012 and the deal is worth $38.6m, of which $30m is payable in cash when the deal is finalised.
See how Kingspan shares are doing in Dublin today.
Kingspan said the deals will be financed in full from its existing debt facilities and it said the deals are expected to modestly enhance its earnings next year.
''These acquisitions represent another step in furthering the group’s global presence and route to market,'' commented Kingspan's group chief executive Gene Murtagh.
''The ThyssenKrupp business will transform our Mainland Europe insulated panels market presence in a region where market penetration is growing, rooted in the need for more energy efficient buildings. The Rigidal Industries business is an excellent platform to develop our existing business and market presence in the Gulf region where demand is growing,'' he added.
