Uponor 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