Stock Exchange Release
Uponor enters a EUR 14.5m provision in the 2008 Financial Statements
to cover for product replacement costs in the U.S.
Uponor enters a EUR 14.5m provision in its 4th quarter 2008 financial
statements to cover for the costs of residential plumbing replacements to be
carried out in the United States.
One of Uponor's discontinued brands delivered residential plumbing systems in
the early 2000s, which were fitted using stainless steel clamps sourced from a
third party. Some installations of these clamps in the Las Vegas, Nevada area
are experiencing failures under certain circumstances.
Uponor plans to carry out a programme to replace the affected installations in
order to avoid further damage. Those concerned are being notified of the
Uponor has initiated actions to attempt to recover the cost of the replacement
programme from the supplier of the clamps as well as its insurance company.
Further information from:
Ms Reetta Härkki, General Counsel, Tel +358 20 129 2835
Vice President, Communications
Tel +358 20 129 2852
NASDAQ OMX Helsinki
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