Building construction activity in Uponor's main markets, especially in Spain
and the USA but also in the Nordic countries, has not reached expected levels,
and the estimates of the full-year development of these markets have been
significantly reduced, to a level that is clearly below what was the basis for
Uponor's full-year guidance statement in April.
As a result, Uponor has intensified actions to adjust production capacities
serving these markets to match current demand. These actions include reductions
in personnel as well as temporary production shutdowns.
Due to the weaker market development, Uponor issues a new guidance for 2008 for
its continuing operations, which exlude the net sales and operating profits of
the UK/Irish infrastructure business: The company's continuing operations' net
sales is not expected to quite reach last year's level and the operating profit
is estimated to fall short of the 2007 level.
Uponor's website (www.uponor.com/investors, IR material) offers a presentation
with background information related to this announcement.
Board of Directors
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
Vice President, Communications
Tel. +358(0)20 129 2852
Helsinki Stock Exchange
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 floor heating and plumbing
systems. The Group employs 4,250* persons globally. In 2007, Uponor's net sales
(pro forma*) totalled 1,050 million euros, returning an operating profit of
12.9*%. Uponor Corporation is listed on the OMX Nordic Exchange in Helsinki,
*) Does not include the Infrastructure business in the UK and Ireland.