Kingspan Group acquires acoustic panel producer Troldtekt A/S
On February 21, 2022, Kingspan Group announced that it is going to be acquiring acoustic board producer Troldtekt A/S. The acquisition signals Kingspan's expansion into the natural materials industry with Troldtekt's experience in utilizing wood and lumber to produce its products. Troldtekt's also maintains a reduced carbon production plant in its main operations, which is also set to help with Kingspan's overall goals in reducing its greenhouse gas emissions by 90% by 2030 as part of the company environmental initiatives.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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