Paroc divests its Panel System business

14 Dec 2016
Paroc Group has today (14 December 2016) agreed on the sale of the entire share capital of its business unit Paroc Panel System (PPS) to Kingspan Group Plc (Kingspan).  

The personnel of PPS will all be transfer to the new owner. Along with the transaction, the parties have agreed on commercial cooperation in stone wool supply to the PPS factory in Parainen. 

"The arrangement supports the focus of Paroc on building and technical insulation. We will continue to seek market expansion and growth possibilities in those areas,” says Kari Lehtinen, CEO of Paroc Group.

PPS is a subsidiary of Paroc Group Oy. In 2015, PPS sales totaled EUR 47 million, with about 100 employees in Finland, Sweden, Norway, Denmark, and Germany.  Paroc Panel System panels are manufactured in Parainen, Finland.

For further information, please contact:
Kari Lehtinen, CEO Paroc Group, tel. +358 46 876 8904