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Acquisition and integration of new businesses
Risk and impact
Acquisitive growth is an important element
of Kingspan’s development strategy. A failure
to execute and properly integrate significant
acquisitions and capitalise on the potential
synergies they bring may adversely affect
the Group.
Actions to mitigate
- All potential acquisitions are rigorously assessed and evaluated,
both internally and by external advisors, to ensure any potential
acquisition meets Kingspan’s strategic and financial criteria.
- This process is underpinned by extensive integration procedures
and the close monitoring of performance post acquisition by
both divisional and Group management.
- Kingspan also has a strong track record of successfully
integrating acquisitions and therefore management
have extensive knowledge in this area which it utilises for
each acquisition.
Health & Safety
Risk and impact
The nature of Kingspan’s operations can
expose its contractors, customers, suppliers
and other individuals to potential health and
safety risks.
Health and safety incidents can lead to loss of
life or severe injuries.
Actions to mitigate
A robust health and safety framework is in place throughout the
Group’s operations requiring all employees to complete formal
health and safety training on a regular basis.
- The Group monitors the performance of its health and safety
framework and takes immediate and decisive action where nonadherence is identified.
- The development of a strong safety culture is driven by
management and employees at every level and is a core part of
doing business with integrity.
Laws and regulations
Risk and impact
Kingspan is subject to a broad range
of existing and evolving governance
requirements, environmental, health and
safety and other laws, regulations and
standards which affect the way the Group
operates. Non-compliance can lead to
potential legal liabilities and curtail the
development of the Group.
Actions to mitigate
- Kingspan’s in-house legal team is responsible for monitoring
changes to laws and regulations that affect the business and
is supported by external advisors.
- A comprehensive framework of policies is in place that
set out the ways employees and suppliers are expected to
conduct themselves.
- The Group’s Code of Conduct sets out the fundamental
principles which it requires all its directors, officers, and
employees to adhere to in order to meet those standards.
- Training is provided through a variety of mediums in key areas of
legal and regulatory compliance, including a suite of mandatory
training for those that join Kingspan.
- A robust whistleblowing process is in place that allows the
anonymous reporting through an independent hotline of
any suspected wrongdoing or unethical behaviour, including
reporting instances of non-compliance with laws and
regulations. All reported cases are investigated.
Innovation
Kingspan Group plc Annual Report & Financial Statements 2021
Global
Planet Passionate
Completing the Envelope
Risk & Risk Management
