The Finnish Competition and Consumer Authority proposes to the Market Court that the joint venture plan between Uponor and KWH Group be not approved

Uponor Corporation                  Stock exchange release        25 February 2013 15.00 EET

The Finnish Competition and Consumer Authority proposes to the Market Court that the joint venture plan between Uponor and KWH Group be not approved

Uponor Corporation has today received notice from the Finnish Competition and Consumer Authority that it proposes to the Market Court that the joint venture plan between Uponor and KWH Group Oy shall not be approved. The plan consists of merging the infrastructure solutions businesses of both companies into a jointly owned enterprise.

Against the view of Uponor and KWH, the Competition and Consumer Authority considers that the transaction potentially leads to a significant impediment of competition in the markets for infrastructure products.

Uponor and KWH will familiarise themselves with the proposal and consider a further course of action.

The companies have the right to file their defence for the case at the Market Court and the Market Court shall give its decision by 25 May 2013.

Uponor Corporation

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

 

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www.uponor.com

 

Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. The Group employs approx. 3,000 persons, in 30 countries. In 2012, Uponor's net sales exceeded €810 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.