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Kingspan invests 200 million euros in a technology campus in Ukraine

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Insulation giant Kingspan has announced that it will invest €200 million in a new building technology campus in Ukraine.

The campus will manufacture advanced insulation and district heating products and is expected to be located in western Ukraine following discussions with the Ukrainian government.

The site will be built over the next five years, with the Irish company estimating the move will create 600 jobs. The group hopes to start construction immediately under “reasonable security conditions.”

In April, Kingspan announced that it would exit the Russian market and sell its operations to local management. The Cavan-based group said the decision was made in early March after conflict erupted in Ukraine.

The move to invest in Ukraine was welcomed by the country’s Minister of Foreign Affairs, Dmytro Kuleva, who said: “Our goal is not only to restore and rebuild the destruction caused by Russian aggression, but also to create an entirely new, modern and innovative economy, leading cities leverage development skills and green technologies.”

Kingspan Chief Executive Gene Murtagh said the decision will see the organization make “positive contributions” to Ukraine’s economy and meet the growing demand for energy-efficient sites in Central and Eastern Europe. He also highlighted the opportunity to help Europe reduce its dependence on oil and gas imports from Russia.

Kingspan currently has 198 manufacturing facilities around the world and employs over 19,000 people.

https://www.independent.ie/business/irish/kingspan-to-invest-200m-in-ukraine-technology-campus-41728185.html Kingspan invests 200 million euros in a technology campus in Ukraine

Fry Electronics Team

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