Uponor details its operational excellence programme

Uponor Corporation     Investor news     28 April 2020     9:30 EET

Uponor details its operational excellence programme

In October 2019, Uponor announced the start of an operational excellence programme to secure competitiveness and further accelerate growth. Detailed planning of the programme has advanced and Uponor confirms the target of €20 million annual cost savings by the end of 2021. One-time costs of the programme are estimated to be around €20 million, the majority of which are expected to be recognised during 2020. The costs will be recorded as items affecting comparability.

The main initiatives are related to Building Solutions – Europe segment and Group functions and aim to improve efficiency through reducing complexity and overlapping tasks as well as harmonising processes. In addition, Uponor has identified savings potential through its sourcing activities. The programme is expected to reduce approximately 200 FTEs by the end of 2021, including possible retirements, resignations and other voluntary arrangements when applicable. Uponor’s employees and employee representatives will be consulted in accordance with the laws and regulations of each impacted country.

Uponor follows the progress of the programme in its interim reports.

Uponor Corporation

Susanna Inkinen
Vice President, Communications and Corporate Responsibility
Tel. +358 20 129 2081

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www.investors.uponor.com

 

Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,800 professionals in 26 countries in Europe and North America. In 2019, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponor.com