Uponor initiates cost reduction programme
Uponor's Board of Directors has today authorised the management to proceed with
a company-wide cost reduction programme in order to align expenses to the low
activity level in the building and construction industry. The programme targets
structural cost reductions in the range of EUR 30 million, effective in 2009.
The planned actions are likely to affect more than 200 employees.
The programme is preliminarily estimated to generate a one-time cost impact of
about 10 million euros, which will be split between the years 2008 and 2009.
The main reason for the programme is the weak building and construction market,
which is going through a cycle of non-satisfactory demand that is expected to
continue throughout 2009. The above mentioned savings programme is designed to
secure the company's performance in the expected weak market environment.
For more information, please contact:
Jan Lång, President and CEO, tel +358-20-129 2822
Jyri Luomakoski, CFO and deputy CEO, tel +358-40-5154498
Tarmo Anttila
Vice President, Communications
Tel. +358(0)20 129 2852
DISTRIBUTION
OMX Nordic Exchange - Helsinki
Media
www.uponor.com