Kingspan says Trump tax plans mean bigger returns as it plans $250m US 'megasite'
Irish insulation and building group Kingspan said US president Donald Trump's planned tax reforms will mean even greater returns for the company as it plans to invest $250m (€218m) in a roofing production 'megasite' in the country.
Kingspan plans to ramp up its US capital investment by from €750m to €1bn (€870m) - adding €218m to its Stateside commitment with a 100-acre roofing campus in Oklahoma, which will be the largest in the US.
"The One Big Beautiful Act, when enacted, should make the returns even more compelling," a Kingspan statement said, citing Mr Trump's proposed tax reforms which are currently before the US Congress.
Kingspan said progress at its roofing facilities in Maryland and Oklahoma is continuing and both will be in production in 2026.
"As a consequence of the significant market and cross sell opportunity we are closely exploring an entry to the shingles category to be potentially based at 100-acre roofing campus in Oklahoma. The logistical synergies of a roofing megasite, the largest in the US, centrally located, and a channel synergy of full spectrum commercial and residential applications will be unrivalled. It will target a return on capital employed in excess of 20% within four years on a $250m investment, within the overall $1bn capital plan."
Davy analyst Flor O'Donoghue said this would imply a potential incremental profit contribution of greater than $50m (€44m) from the US investment. "Our current expectation is that the group's trading profit will increase from €907m to €985m this year and we are very confident of further strong growth over the remainder of the decade and beyond," Mr O'Donoghue said.
Kingspan has targeted a 15% market share in the non-residential flat roofing market.
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