On Wednesday, Recticel announced it had sold its 50% stake in the co-enterprise Kingspan Tarec Industrial Insulation (KTII), for 8,5 million euros. The Belgian group has given its stake to its partner Kingspan Group PLC, which will now hold 100% of KTII, which is located at Turnhout, and KTII Ltd (Glossop, GB). “This sale will allow Recticel to concentrate of its construction insulation activities”, the group explained in a press release.
Kingspan Tarec Industrial Insulation (KTII) develops and makes insulation products for the thermic insulation of piping in petrochemical processes and applications, and refrigerated lorries for industry. KTI was founded by Recticel and Kingspan in 2006.
Andy Sanchez (Source: Belga)