Kingspan unit received multimillion euro grant from Enterprise Ireland

State agency gave company €4.6m

Kingspan, led by CEO Gene Murtagh, last month said in a trading statement that its sales had dropped marginally in the last financial quarterEnterprise Ireland handed a unit of Kingspan a €4.6 million grant for “a serious disturbance in the economy”, new European Commission filings show.

The funding was aimed at providing capital funds for companies who were “affected by the pandemic due to factors including higher uncertainty, supply side constraints on investment and worsening financial conditions for firms”, according to a spokesperson for Enterprise Ireland.E-gates of hell signal start of travel chaos season

It is not clear whether the funds relate to any specific project or whether any of the money has been drawn down yet. Last month Kingspan, which has a market capitalisation of €16.3 billion, said in a trading statement that its sales had dropped marginally in the last financial quarter, warning that costs of materials could rise again in the near future.

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