On the 20th of April the Expoforum hosted a press conference, entitled “International Experience in Construction Business: At Whose Expense European Concerns Prosper in Russia”. The event was held within the framework of the “InterStroyExpo”.
At the conference the Kingspan top management announced the company’s merger with the Belgian Joris Ide Group. Since the 1st of January Joris Ide Group officially entered the CEER division, incorporated in the Kingspan Group.
At present, the released products are being rebranded, and the company is being renamed into Kingspan LLC. The cost of the contract on Joris Ide acquisition, including its Russian subsidiary, totaled about €350m.
The Kingspan representatives both from Russian subsidiary and from its international headquarters attended the event.