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2009-01-08 13:00:00 CET 2009-01-08 13:00:01 CET REGULATED INFORMATION Uponor - Company AnnouncementUponor plans further staff reductions in Sweden and continues with savings initiativesUponor Corporation Stock exchange release 8 Jan 2009 14.00 EET Uponor plans further staff reductions in Sweden and continues with savings initiatives Uponor is initiating discussions with its employees in Virsbo, Sweden in order to reduce workforce by 52 persons. The plans are a continuation to the reductions implemented in 2008. The need to adjust staffing has increased as building market demand has continued to deteriorate in the Nordic countries and elsewhere in Europe, where the factory's products are used. In November, Uponor announced that it had started union consultation in Spain to adjust employee numbers to the market situation. As a result, Uponor reduced its Spanish workforce by 65 persons effective end of 2008, 10 of which were temporary contracts. According to management, strong savings measures and related personnel reductions are necessary in this macro-economic environment, which has had an impact especially on the building construction activity and on the demand of Uponor products. Tarmo Anttila Vice President, Communications Tel +358 20 129 2852 DISTRIBUTION NASDAQ OMX Helsinki Media www.uponor.com Uponor is a leading supplier of plumbing and heating systems for the residential and commercial building markets across Europe and North America, and a market leader in municipal infrastructure pipe systems in the Nordic countries. Uponor's key applications include indoor climate and plumbing systems. The Group employs ca 4,000 persons in 27 countries. In 2007, Uponor's net sales (pro forma) totalled 1,050 million euros. Uponor Corporation is listed on the NASDAQ OMX Helsinki Ltd., Finland. http://www.uponor.com |
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