Kingspan Acquires Majority Stake in Grupo LTN in Argentina

Kingspan has acquired a majority shareholding in Grupo LTN, a prominent manufacturer of structural insulated panels in Argentina. The Group's rapidly expanding presence in Latin America (LATAM), a market it first entered in 2017, is further fortified by the transaction, which marks Kingspan's debut in Argentina.

"We are delighted to welcome Grupo LTN to the Kingspan family. Argentina is a market with significant long-term potential, and Grupo LTN's deep expertise in insulated panel technology, combined with its strong local market position, makes it an ideal partner for our entry into the country. This transaction builds on the considerable momentum we have established across Latin America in recent years and underscores our ongoing commitment to expanding our global footprint." Gene Murtagh, CEO Kingspan Group, commented

Founded over 50 years ago and headquartered in Maipú, Mendoza, Grupo LTN is a leading Argentine group that specialises in manufacturing high-performance insulated panels. The company operates manufacturing plants in Mendoza and General Rodríguez, Buenos Aires, with a commercial presence across multiple Argentine provinces.

Kingspan has over 1,700 employees in LATAM, annualised revenues of approximately €500 million and operations across multiple countries, including Brazil, Colombia, Mexico, Panama, Paraguay, Uruguay, and Chile. The acquisition represents a strategically important addition to Kingspan's regional platform, with the transaction giving Kingspan immediate access to an experienced workforce, well-invested manufacturing facilities, and a strong reputation in the domestic construction sector.

Source: Kingspan