Uponor Corporation Press release 1 December 2009
Uponor acquires radiant heating and cooling company in the UK
Uponor Corporation has signed a contract to acquire the entire shareholding in
the radiant heating and cooling systems company The Underfloor Heating Co Ltd,
based in Skelmanthorpe in Yorkshire in the UK. Trading under the name Velta UK,
a former Uponor brand, the company has been a long-term partner of Uponor in
supplying Velta-branded systems especially for the commercial and industrial
building sector in the UK and internationally.
Fernando Roses, Executive Vice President - Sales and Marketing for Uponor in
South & West Europe and the Nordic countries comments on the deal:
- The expertise that Velta UK has in turnkey deliveries, together with its
skills in commercial engineering and project and contract management, will be
an asset for Uponor's global organisation, providing support for the growing
project business amongst international developers. In the UK, the companies'
complementary sales networks will offer further leveraging opportunities.
The Underfloor Heating Co Ltd employs a staff of 50 persons, and is one of the
market leaders in the UK commercial underfloor heating market. Further details
are not disclosed.
Riitta Palomäki, CFO, Uponor Corporation, tel. +358 20 129 2822
Uponor is a leading supplier of plumbing and indoor climate 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 heating and cooling solutions and
tap water systems. The Group employs ca 3,500 persons in 27 countries. In 2008,
Uponor's net sales totalled 950 million euros. Uponor Corporation is listed on
the NASDAQ OMX Helsinki Ltd., Finland. http://www.uponor.com