Marketing

EU regulators open probe into Kingspan’s Trimo deal


EU competition regulators plan an in-depth investigation of insulation specialist Kingspan’s take over of rival Trimo.

Kingspan said last year that it was buying Slovenian-based manufacturer Trimo from Polish investment fund Innova Capital.

The European Commission said on Tuesday that it would open an “in-depth” investigation into the deal after an initial inquiry found that the pair compete in the sale of mineral fibre insulation boards in several European countries.

EU executive vice president, Margrethe Vestager, pointed out that together, Kingspan and Trimo, would create by far the biggest player in Europe and the main supplier of mineral fibre panels.

“We need to ensure a healthy competitive landscape for all the businesses relying on these products to insulate their buildings,” she said.

Ms Vestager noted that the panels were used to boost insulation and energy efficiency in industrial buildings.

The proposed deal was referred to the commission in October and notified on March 3rd, 2021.

The commission has 90 working days, until August 20th, 2021, to make a decision.

“The opening of an in-depth investigation does not prejudge the outcome of the investigation,” a statement added.



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