UK: SIG says that its full-year sales dropped by 2% year-on-year in 2023. Reuters has reported that the company nonetheless expects to record an underlying operating profit in the upper half of its forecast for the year. It said that restructuring and productivity initiatives carried out in the second half of 2023 saved an anticipated Euro11.6m. SIG expects ‘soft’ market conditions to continue in 2024.

UK: Recticel says that new requirements following the UK’s exit from the EU have created estimated extra one-time costs of Euro464,000. Local press has reported that UK-based laboratory testing is estimated to cost Euro325,000 across eight products, while new fire tests for the same products will add a further Euro130,000.

Senior technical manager Simon Blackham said “It’s the same standards, to the same test method, the same everything - and it would have to be paid for, ultimately, by the customer.”

Germany: Ireland-based Kingspan completed its acquisition of flexible wood fibre insulation producer Steico for Euro250m on 5 January 2024. Alliance News has reported that Kingspan issued shares to former Steico owner, Austria-based Schramek, following its completion of the deal.

New Zealand: The Commerce Commission has allowed Kingspan to proceed with its acquisition of Conqueror. The commission said that the Ireland-based group will ‘not substantially lessen’ competition in New Zealand when it completes the acquisition. This is due to the market shares belonging to competitors Bondor and Metalcraft, of which the latter plans to open a new plant in Hamilton, Waikato in 2024.