Uponor streamlines central European distribution operations
Uponor Corporation Stock exchange release 7 April 2014 09.00 EET
Uponor streamlines central European distribution operations
Uponor has decided to close its distribution centre in Wettringen, north-western Germany and plans to relocate these operations to a new custom-fitted building in Hassfurt, southern Germany, next to the company’s current facilities. The new 15,000 m2 lease facility is planned to be ready for occupancy by early 2015 at the latest.
In connection with this, the manufacture of local heat distribution pipe systems in Ochtrup, the town neighbouring Wettringen, will also be transferred to Hassfurt.
The relocation and streamlining are expected to improve customer service and increase internal efficiency. Uponor expects to achieve operational savings in the range of €2 million on an annual basis, effective from the second quarter of 2015 onwards.
The one-time costs, including redundancy costs, will total nearly €3.8 million, which will be booked as provisions in the first quarter of 2014. Employees in the Wettringen-Ochtrup area will be offered jobs in the new location, but it is estimated that some 55 persons will leave the company.
After the relocation, Uponor will continue to employ some 50 persons in sales, offering and other service functions in the Wettringen-Ochtrup area.
Further information:
Riitta Palomäki, CFO, tel. +358 20 129 2822
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. 4,100 persons, in 30 countries. In 2013, Uponor's net sales exceeded €900 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.
