Uponor, Inc.’s class action settlements became final after court rulings in the U.S.

Uponor Corporation        Stock exchange release        18 Dec 2015  8.00EET

Uponor, Inc.’s class action settlements became final after court rulings in the U.S.

On 10 June 2015, Uponor Corporation announced that its U.S. operative subsidiary company, Uponor, Inc., together with its insurers and some of its key trade partners was involved in settlement negotiations in two U.S. class action suits. They involved alleged failure risks of Uponor yellow brass fittings sold in the USA. Court approvals of the final settlement terms have now been granted in the form of two separate Class Action Settlements, one of which involves Clark County, Nevada and the other the rest of the USA. The settlements were essentially approved by the court in the form that was originally proposed by the parties, thus making them final and binding on all parties.

According to the terms of the settlements, Uponor, Inc. will provide building owners with an enhanced warranty to cover potential fitting failures. Uponor continues to have a high level of confidence in the long-term performance of these products, since they have an excellent track record.

Uponor, Inc.’s obligations under the terms of the settlements will have no material financial impact on the 2015 consolidated results of Uponor Corporation.

Further information from:
Riitta Palomäki, CFO, Uponor Corporation, Tel +358 20 129 2822

Uponor Corporation

Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852

Nasdaq Helsinki

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. 3,800 persons, in 30 countries. In 2014, Uponor's net sales exceeded €1 billion. Uponor Corporation is listed on Nasdaq Helsinki in Finland. www.uponor.com