Construction products firm Kingspan Group says discussions with Hytherm/Xtratherm Group are ongoing but insists the acquisition is not a foregone conclusion.

Construction products firm Kingspan Group has confirmed that it is in talks to buy insulation board manufacturer Hytherm/Xtratherm Group for about 拢58m.

The firm said that discussions were ongoing but insisted that the acquisition was not a foregone conclusion.

In a statement this morning, the firm said: "However there is no certainty that these discussions will lead to a successful conclusion, and in addition any final agreement with the owners would be subject, inter alia, to the approval of the Irish Competition Authority."

Kingspan has also been reported to be looking at other acquisitions in the UK, and is believed to have a warchest of about 拢100m to spend on its expansion plans.