Uponor's Finnish subsidiary Uponor Suomi Oy now has no need for the additional
layoffs for which the company had prepared in connection with the co-operation
negotiations launched in the spring. In those negotiations between the
management and personnel, it was decided that the entire personnel would be
laid off for two weeks, mainly during the summer. In addition the company would
prepare for additional layoffs, to be decided in September, so that the total
layoff would not exceed two months. A status review has now indicated that
there is no need for such additional layoffs.
According to Ville Ruohio, Managing Director of Uponor Suomi Oy, it now seems
that the agreed two-week layoffs and other implemented savings will enable the
company to achieve its full-year business goals. The company reports no changes
in the market environment or outlook.
Uponor Suomi Oy, an Uponor Group company, employs approximately 375 people in
Finland, mainly in Nastola, Forssa and Espoo.
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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 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