Uponor - Company Announcement

Uponor closes intelligent water sensing technology joint ventures with Belkin

Uponor Corporation    Stock exchange release         13 July 2016   16:45 EET



Uponor closes intelligent water sensing technology joint ventures with Belkin

Uponor Corporation and Belkin International, Inc. have today completed the
partnership agreement, announced on 25 May 2016, and formed a joint venture
company both in the United States and in Europe. The new joint venture, named
Phyn, develops water sensing and conservation technology both for consumers and
to the building industry. 

Uponor will initially invest $15 million in exchange of a 37.5% shareholding in
the companies. The investment will impact Uponor’s cash flow in the third
quarter 2016 but it has no impact on Uponor’s profit guidance for 2016. Uponor
has an option to increase its ownership to 50% at a later stage. 

As a minority-owned business, the joint venture company will be consolidated
into Uponor’s financial accounts using the equity method. 



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