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Published:
2017-05-04 15:00:00 CEST
Uponor Corporation
Other information disclosed according to the rules of the Exchange

Uponor invests €16.3 million to expand PEX pipe manufacturing capacity in North America

Uponor Corporation     Stock exchange release     4 May 2017     16.00 EET

Uponor invests €16.3 million to expand PEX pipe manufacturing capacity in North America

Uponor’s U.S. subsidiary, Uponor, Inc., part of the Building Solutions – North America segment, will be expanding its manufacturing facility in Apple Valley, Minnesota with a €16.3 million ($17.4 million) investment. Completion is expected by January 2018. The tenth expansion since operations started in Apple Valley in 1990, this new expansion will add an additional 5,440 square metres (58,000 square feet) in manufacturing operations space related to crosslinked polyethylene (PEX) pipe production.

The North American market represents nearly one third of Uponor’s global net sales (2016), of which building solutions represents a clear majority, and the number has been growing steadily in the past few years.

“Uponor, Inc. continues to see growth opportunities in commercial and residential construction in North America, and this expansion is required to meet forecasted growth for plumbing and indoor climate systems used in residential and commercial buildings,” says Jyri Luomakoski, President and CEO at Uponor Corporation.

In the January–March 2017 interim report on 3 May, Uponor stated that its capital expenditure in 2017 is expected to come close to €60 million. The above-mentioned expansion investment does not trigger a change in this statement.

Apple Valley is the centre for Uponor, Inc.’s North American operations. In total, the U.S. subsidiary has close to 700 employees in the Twin Cities area. In 2016, Uponor, Inc. added more than 100 new jobs, and plans to hire more as a result of the manufacturing expansion. The expansion will be designed to the same LEED® standards as the existing facility to match corporate sustainability ambitions.

 

For further information, please contact:

Jyri Luomakoski, President and CEO, tel. +358 20 129 2824
Maija Strandberg, CFO tel. +358 20 129 2830


 

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 3,900 employees in 30 countries, mainly in Europe and North America. In 2016, Uponor's net sales totalled €1.1 billion. Uponor is based in Finland and listed on Nasdaq Helsinki. www.uponor.com

 

Updated : 04.05.2017