Uponor concludes its employee negotiations in Spai
Post# of 301275
Uponor Corporation Stock exchange release 22 December 2016 14.00 EET
Uponor concludes its employee negotiations in Spain
Uponor Corporation’s Spanish subsidiary Uponor Hispania S.A.U. has today concluded the co-determination negotiations in Spain. As a result, up to 50 employment contracts will be terminated, which is somewhat less than originally planned. For the most part, the reductions will be made by the end of February 2017.
According to the initial plans announced on 23 November 2016, Uponor will close its PEX pipe production site in Mostoles, Spain and concentrate production to the company’s facilities in Virsbo, Sweden. This transition will be completed during the first quarter of 2017.
The manufacturing concentration is part of Uponor’s transformation programme, which started a year ago in the company’s European segments.
Uponor will continue to have its logistics centre and the sales & marketing organisation in Spain. Uponor will make every effort to support the affected employees by offering them professional outplacement services in an effort to help them find employment.
For more information, please contact: Jyri Luomakoski, President and CEO, tel. +358 20 129 2824 Riitta Palomäki, CFO, tel. +358 20 129 2822
Uponor Corporation
Tarmo Anttila Vice President, Communications Tel. +358 20 129 2852
DISTRIBUTION: Nasdaq Helsinki Media www.uponor.com
Uponor is a leading international systems and solutions provider for safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure. The company serves a variety of building markets including residential, commercial, industrial and civil engineering. Uponor employs about 3,700 employees in 30 countries, mainly in Europe and North America. In 2015, Uponor's net sales totalled €1,050 million. Uponor is based in Finland and listed on Nasdaq Helsinki. www.uponor.com
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