kingspan grenfell news

Kingspan added that it only learned a small amount of K15 had been used on Grenfell Tower after the fire in June 2017, which killed 72 people. Kingspan said in response that it “condemns any actions that do not demonstrate a proper commitment to fire safety”. It declined to comment further. The company insists it was highlighting the fact that building systems with non-combustible materials can still be unsafe. A fund manager has offloaded its stake in Kingspan over concerns about the company’s governance in the wake of the Grenfell Tower Inquiry. Kingspan declined to comment on the share trades. The first phase of the Grenfell inquiry concluded that cladding put on the west London tower block during its refurbishment fuelled the fire in June 2017 in which 72 people died. The Grenfell memorial wall in the grounds of Kensington Aldridge academy, near the tower. 08 Apr 2021 Kingspan Plc said a key executive will retire within weeks, a day after the Irish manufacturer apologized for “shortcomings” uncovered by an inquiry into England’s deadliest fire in 75 years. It declined to comment further. https://www.architectsjournal.co.uk/news/grenfell-inquiry-kingspan-manager-gives-evidence Our aims are clear: to reassure that safety takes precedence over all other considerations and to ensure this can never happen again.” ­. The body held 0.11 per cent of the company’s equity at the end of February, when it sold its stake. Baillie Gifford, before it cut its holdings, told Grenfell United “the allegations of misconduct at Kingspan were deeply concerning”. Our aims are clear: to reassure that safety takes precedence over all other considerations and to ensure this can never happen again.”, We use cookies to personalize and improve your experience on our site. Leading insulation manufacturer Kingspan spent a second week in the spotlight at the public inquiry probing the background to the Grenfell Tower fire, which claimed 72 lives in 2017. https://www.anglocelt.ie/2020/11/11/grenfell-inquiry-kingspan-withdraw-fire-test-reports Kingspan has admitted “unacceptable conduct and historical process shortcomings, involving a small number of employees” but said this did “not reflect the high standards of integrity and safety that are core Kingspan values”. It added: “We firmly believe that systems incorporating K15 [the foam used on Grenfell], that have passed a full-scale fire test, are safe where correctly installed in the manner in which they were tested.”. 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Investors have sold shares worth hundreds of millions of pounds in Kingspan, which supplied part of the combustible cladding system on Grenfell Tower, after growing pressure from bereaved families for firms involved in the 2017 disaster to start facing consequences. The Grenfell Inquiry. The public inquiry into the disaster has heard that Kingspan sold its plastic foam insulation without telling customers that it had failed fire tests. A Kingspan director has denied that the insulation giant had a close relationship with government which it wanted to maintain after the Grenfell fire. In WHEB’s quarterly report covering the fourth quarter of 2020 we detailed the principal findings of the official Inquiry into the causes of the fire. “It’s unbelievable that people would still put money into businesses which have demonstrated a clear lack of concern for human life, public safety and a culture of pure greed,” Grenfell United said. K15 is Kingspan’s market-leading insulation product, installed on thousands of buildings. “We have already implemented several important changes that demonstrate our commitment to product compliance and good governance. More than 70 people died in the Grenfell Tower fire in 2017 A senior Kingspan executive has said the company did not deliberately conceal information from a … The inquiry has seen a number of allegations levelled against the company, including that it misled MPs by using rigged safety tests in lobbying over whether combustible material should be banned. The inquiry restarts next week, when selected tower block residents will testify about their relationship with their council landlord before the fire. We do believe, however, that the culture within the UK business enabled – even encouraged – an attitude that prioritised commercial advantage over product safety.”. New watchdog tells England's high-rise builders to 'get your act together'. Kingspan has used its financial results for 2020 to unveil a series of actions it is taking in response to “serious issues” that have arisen from the Grenfell Tower Inquiry process. Philip Heath is a middle manager at Kingspan whose email correspondence was released this week as part of the Grenfell inquiry. All the investors were urged to divest by Grenfell United, which told them it wanted “consequences for the corporate bodies like Kingspan, who played a central role in inflicting the pain and suffering that is felt by the bereaved and survivors to this day”. In February, CEO Gene Murtagh said: “The unacceptable conduct and historical process shortcomings, involving a small number of employees in our UK insulation boards business, do not reflect the high standards of integrity and safety that are core Kingspan values, deeply held by our people. Its chief executive, Gene Murtagh, owns stock in the company worth about £1.4bn and sold share options worth £3.1m shortly before evidence about Kingspan was revealed at the public inquiry, triggering a share price fall. Grenfell: Kingspan insulation marketing ‘misleading’ ... That’s according to a former employee of Kingspan, who appeared before the Grenfell Tower Inquiry yesterday. Other recent sellers of Kingspan shares who were lobbied by survivors include Pictet asset management, which sold all its holdings by February this year, Guinness Funds, which sold up in the last months of 2020, and Lionstrust asset management, which reduced its holding, froze any new investment and said it was awaiting the inquiry’s conclusions. It was used without Kingspan’s knowledge in a system that was not compliant with … Baillie Gifford, before it cut its holdings, told Grenfell United “the allegations of misconduct at Kingspan were deeply concerning”. Payment under the Construction Playbook: what’s the reality for contractors? WHEB, which calls itself a “positive impact investor” in low-carbon areas of the economy, had held shares in the materials firm since May 2014. Kingspan has published an information web page pertaining to its involvement as a core participant in the Grenfell Tower Public Inquiry. It is worth reiterating that Kingspan had no role in the design or planning of the cladding system at Grenfell … This page contains updated statements, FAQs and contacts. Newly released minutes from a meeting of its investment committee show that the investors concluded: “We do not believe that Kingspan was in any way culpable for the Grenfell Tower fire. According to investment committee minutes it said it felt a “lack of trust in the governance of the company”, although it said “it seems clear that the primary failings at Grenfell were due to the cladding system as a whole rather than a specific failing in the insulation that was used”. A huge fire at the building in 2017 killed 72 people. In February, Murtagh said: “We have already implemented several important changes that demonstrate our commitment to product compliance and good governance. In our eyes, Kingspan and their like should not still be in business after what they did.”. This Inquiry is still on-going [5]. The inquiry heard one Kingspan executive responded to a contractor who pointed out the material might fuel fire in some uses by suggesting they “can go f’#ck themselves, and if they are not careful we’ll sue the a’#se of [sic] them”. Grenfell United, representing bereaved families, welcomes move by Baillie Gifford and other asset managers, Last modified on Thu 15 Apr 2021 05.11 BST. The Building Research Establishment (BRE) received a “significant source of revenue” by producing desktop studies for combustible Kingspan insulation used on … When another contractor complained to Kingspan it had “not substantiated … on what basis [its insulation] is suitable for buildings over 18m” Philip Heath, Kingspan’s technical manager remarked to a colleague: “[They] are getting me confused with someone who gives a dam [sic]”. Kingspan: insulation used on Grenfell ‘against design’ Leaked notes warn of ‘doctored’ fire safety tests on materials for high rises Mr Millett said: “As recently as 29 October, Kingspan solicitors wrote to the inquiry attaching a letter directly from Kingspan to the BRE saying … It said the Grenfell Tower Inquiry has thrown up concerns about the firm and seemed to show “a culture of seeing UK regulation as an impediment to doing business”. Grenfell United welcomed the sell-offs and said it would press for more investors to do the same. Kingspan and the Grenfell Tower Inquiry Kingspan had no role in the design of the cladding system used on Grenfell Tower, where its K15 product constituted approximately 5% of the insulation used. With an ongoing police investigation into possible corporate manslaughter and health and safety offences related to the fire unlikely to result in charging decisions until 2022, survivors and families of the 72 people who died have been privately lobbying investors to “immediately disinvest from a company which pushed hazardous products into the marketplace and sought to market them dishonestly, thereby, putting innocent lives at risk”. The correspondence shows, over the course of four years, his communication with clients, partners, regulators and underlings about Kingspan’s K15 insulation product. Ex-technical director Ivor Meredith told the inquiry into the fire this was "common knowledge" at Kingspan. It also wants firms involved in Grenfell barred from public contracts. It will be the first time they have spoken at the inquiry since it began almost three years ago with commemorations of those who who died in the fire. Philip Heath apologised for his comments. They include specialist ethical funds originally attracted to Kingspan because its insulation products reduce carbon emissions. News. It also heard evidence that a development director said a consultant who raised concerns about the combustibility of its product could “go f**k themselves” in an internal email. Both products are plastic and combustible when burned. Kingspan’s combustible foam insulation, Kooltherm K15, has been widely used on blocks of flats, including many now caught up in the fire safety crisis affecting hundreds of thousands of high-rise homes. A fund manager has offloaded its stake in Kingspan over concerns about the company’s governance in the wake of the Grenfell Tower Inquiry. Kingspan declined to comment, stating it did not comment on individual shareholders. By Ian Weinfass. The inquiry has heard that Arconic, which made the combustible cladding panels, probably knew before the fire that they were dangerous on facades, and that Celotex, which made most of the insulation, had rigged a key test to make its combustible foam seem safer than it was. Last week it emerged that WHEB, which runs an ethical fund, had sold its shares citing “an attitude that prioritised commercial advantage over product safety”. Kingspan, the Cavan-based building materials company, has announced the departure of the managing director of its insulation boards division, which is at the centre of the Grenfell Tower inquiry. “The inquiry made it clear they only care about profit. Although it won’t bring our loved ones back, it does help to know these companies aren’t getting away with business as usual. Most of the flammable insulation on Grenfell Tower … Four other asset managers have also reported selling holdings in recent months and others have placed investments under review. While Kingspan’s share price is 12% lower than before evidence about its conduct was revealed at the inquiry, the firm reported increased profits for 2020 of around £330m. Since 1821, we’ve been a work in progress. Kingspan was one of a number of companies that made insulation used on the Grenfell Tower in London. Baillie Gifford, until recently one of Kingspan’s largest shareholders, has sold an estimated £200m worth of stock in the Irish firm in a series of trades executed in February and March, according to records analysed by the Guardian. Impax asset management said it had reduced its position “significantly” and would keep its remaining investment “under active review”. With Kingspan it is the Grenfell Tower inferno in London in June 2017 – one that cost 72 lives – that has triggered the biggest reputational crisis it has faced since … Kingspan K15 formed a small part of the insulation used in the rainscreen cladding system on the walls of Grenfell Tower, with the majority the ‘RS5000’ product made by rival firm Celotex. Of culture, sport, art and life imitating it. Visit our, Investor sells Kingspan shares over Grenfell inquiry concerns, misled MPs by using rigged safety tests in lobbying over whether combustible material should be banned, building systems with non-combustible materials can still be unsafe, development director said a consultant who raised concerns about the combustibility of its product could “go f**k themselves”, An inevitable wave of insolvencies in 2021, How we’re helping unlock UK buildings through safe ventilation, Getjar alliance adds piling and demolition capabilities. 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