Kingspan, the Cavan-based building products group, has sold its stake in British-based CMS Pozament to Tilcon, a British cement company for £1 million sterling (€1.5 million). Kingspan acquired its stake in the specialist cement manufacturer as part of its acquisition of Hewetson in January. Disposing of it would allow Kingspan to concentrate on Hewetson's core raised access flooring business, it said. Kingspan held a 50.1 per cent stake in CMS Pozament in a joint venture with HSC UK Ltd, another speciality cements group.
Kingspan sells non-core unit
Kingspan, the Cavan-based building products group, has sold its stake in British-based CMS Pozament to Tilcon, a British cement…
Join The Irish Times on WhatsApp and stay up to date
Sign up to the Business Today newsletter for the latest new and commentary in your inbox
Listen to Inside Business podcast for a look at business and economics from an Irish perspective