Insulation specialist Kingspan said it would increase its planned investment in the US roofing business to $1 billion over the next five years.
That is up from the $750 million the company previously said it would invest.
The group is also expecting to benefit from US president Donald Trump’s fiscal plans.
“The One Big Beautiful Act, when enacted, should make the returns even more compelling,” Kingspan said in a statement.
However, the Bill is facing opposition from Republican deficit hawks concerned over the cost of the plan, which would extend 2017 tax cuts while boosting spending on the military and border security.
The non-partisan Congressional Budget Office said the measure would add $3.8 trillion to the US government’s $36.2 trillion in debt.
Kingspan said progress at its roofing facilities in Maryland and Oklahoma was continuing, with both expected to be in production next year.
“As a consequence of the significant market and cross sell opportunity we are closely exploring an entry to the shingles category to be potentially based at our hundred-acre roofing campus in Oklahoma,” the company statement said.
“The logistical synergies of a roofing mega-site, the largest in the US, centrally located, and a channel synergy of full spectrum commercial and residential applications will be unrivalled. It will target a ROCE in excess of 20 per cent within four years on a $250 million investment, within the overall $1 billion capital plan.”
The group said the investments are expected to materially contribute to earnings over the next decade and beyond.
