Uponor to close factory and exit municipal business in Iberia

11/19/2004, 4:02 PM (Source: GlobeNewswire)
Uponor Corporation Stock exchange release 19 Nov. 2004 17:00

Uponor has decided to discontinue its infrastructure and environment
business in Portugal and Spain. This will involve closing the factory
and offices of Uponor Construção e Ambiente, S.A. in Vila Nova de
Gaia (Oporto), Portugal, and the offices of Uponor Resiplast, S.A.U.
in Spain.

The closures are part of the Group's restructuring programme aiming
at greater efficiency and the focus on markets where a leading
position is achievable.

- Uponor's infrastructure business has suffered from unsatisfactory
profitability in the Iberian market. Since we do not have a feasible
plan to boost our market position, we decided to exit the business
there, says Jan Lång, President and CEO of Uponor Corporation.

The closures will take place during the first quarter of 2005,
affecting around 120 people employed by the infrastructure and
environment business.

Uponor will continue to develop its strongly performing housing
solutions business in Spain and Portugal. The company manufactures
heating and cooling and tap water systems in a factory in Mostoles
(Madrid), Spain, in which businesses it is the market leader. The
housing solutions businesses in Iberia had a staff of approximately
190 at the end of September.


Uponor Corporation

Tarmo Anttila
Vice President, Communications


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