Uponor - Company Announcement

Uponor plans to concentrate pipe production and close a factory in Spain

Uponor Corporation    Stock exchange release    23 November 2016   13.30 EET

Uponor plans to concentrate pipe production and close a factory in Spain

Uponor plans to close its PEX pipe production site in Mostoles, Spain and
transfer production to the company’s facilities in Virsbo, Sweden. Uponor is
starting employee consultation with the local works council, and it estimates
that up to 56 employees may be affected. The company will offer supportive
measures for employees affected by the changes. 

The Mostoles plant manufactures PEX pipe for the south European markets. As
part of the European transformation programme, started in autumn 2015, the
company now plans to transfer the production to rationalise manufacturing and
reduce cost in supply chain and production operations. 

“Our main PEX pipe markets are in the Nordic countries and Germany, and
therefore the manufacturing location in Virsbo is well suited to serve those
customers,” says Jan Peter Tewes, President, Building Solutions – Europe. 

Uponor will continue to have its logistics centre and the sales & marketing
organisation in Spain. 

The announced plan is part of Uponor’s transformation programme, which started
a year ago in the company’s European segments to accelerate profitable growth,
greater agility and cost reductions. In addition to the initiatives to grow net
sales, the transformation programme was also targeted at contributing a minimum
of €25 million in operational savings in the consolidated financial accounts by
the end of 2017. Of these savings, Building Solutions – Europe is seeking at
least €20 million. 



Further information:

Jyri Luomakoski, President and CEO, tel. +358 20 129 2824
Riitta Palomäki, CFO, tel. +358 20 129 2822



Uponor Corporation
Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852



DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponor.com



Uponor is a leading international systems and solutions provider for safe
drinking water delivery, energy-efficient radiant heating and cooling and
reliable infrastructure. The company serves a variety of building markets
including residential, commercial, industrial and civil engineering. Uponor
employs about 3,700 employees in 30 countries, mainly in Europe and North
America. In 2015, Uponor's net sales totalled €1,050 million. Uponor is based
in Finland and listed on Nasdaq Helsinki. www.uponor.com