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Kingspan Insulation has signed a deal for the acquisition of a majority stake in HempFlax Building Solutions GmbH

We are happy to inform you that Kingspan Insulation has signed a deal for the acquisition of a majority stake in HempFlax Building Solutions GmbH. HempFlax will continue to be involved as a minority shareholder and leading raw material supplier to support future growth of the business.   HempFlax Building Solutions GmbH was previously part of HempFlax Group. HempFlax Group offers a wide range of hemp products varying from CBD oils to industrial applications. HempFlax Building Solutions produces hemp fibre insulation products. The products are manufactured in the factory located in Nördlingen Germany, which forms part of the acquisition.   

The world is on a journey to net-zero carbon. At Kingspan, our full spectrum offering is already helping you on this journey, with a range of insulation solutions designed to help buildings drive down operational carbon by saving energy. Now, we’ve taken a step forward in driving down the embodied carbon of our insulation materials. 

David Macdonald, Managing Director of Kingspan Insulation Continental Europe, about the acquisition of a majority in HempFlax Building Solutions GmbH:

We are committed to make our products, as well as our operations more sustainable. Hemp fibre insulation embodies this commitment. By acquiring a majority stake in HempFlax Building Solutions GmbH, and adding hemp insulation to our product range, we are supporting the growing demand for bio-based construction materials. In developing hemp insulation, HempFlax Building Solutions has created an insulating material that meets the demands of the present and of the future. We are incredibly pleased to welcome this enthusiastic and capable team to the Kingspan family. By adding this product to our portfolio, we aim to expand production and distribution.” 

Mark Reinders, CEO of HempFlax, explains the wider context for the sale:

“We are happy to have signed with Kingspan. With its outstanding insulation expertise and access to important markets in Europe, Kingspan will be able to drive the growth of hemp insulation, and in doing so, provide a solution that offers a low-embodied carbon insulation when compared with traditional alternatives.” 

The product will be integrated into the Kingspan portfolio and officially launched. The launch of the product range is planned for early October this year.