Insulation and building company Kingspan has bought a majority stake in shareholding group Grupo LTN.
The company is one of Argentina’s leading manufacturers of structural insulated panels and employs over 377 staff.
Grupo LTN operates manufacturing plants in Mendoza and General Rodríguez, Buenos Aires, with a commercial presence across multiple Argentine provinces.
It also serves a broad range of sectors, including construction, food and cold-chain logistics, and industrial infrastructure.
This is Kinspan’s first acquisition in Argentina and is part of the Group’s growing presence across Latin America, after first entering the market there in 2017.
It now has over 1,700 employees in Latin America, has annualised revenues of approximately €500 million and has operations across multiple countries including Brazil, Colombia, Mexico, Panama, Paraguay, Uruguay, and Chile.
Commenting on the acquisition Kingspan Chief Executive Gene Murtagh, Kingspan said Argentina is a market with significant long term potential.
“Grupo LTN’s deep expertise in insulated panel technology, combined with its strong local market position, make it an ideal partner for our entry into the country.
“This transaction builds on the considerable momentum we have established across Latin America in recent years and underscores our ongoing commitment to expanding our global footprint,” he said.
Kingspan said the acquisition represents a strategically important addition to Kingspan’s regional platform, with the transaction giving the Group immediate access to an experienced workforce, well-invested manufacturing facilities, and a strong reputation in the domestic construction sector.
