Uponor Infra Oy and Uponor Suomi Oy deny the claims
Uponor Oyj, Inside information, 8 September 2022 at 12:30 p.m. EEST
Uponor Infra Oy and Uponor Suomi Oy deny Violating the requirements of the Finnish Competition and Consumer Authority Ccompetitive Act
Uponor Oyj has today received information that the Finnish Competition and Consumer Authority (KKV) proposes that the Market Court impose antitrust fines on its subsidiaries Uponor Infra Oy (EUR 8.5 million) and Uponor Suomi Oy (EUR 5 million) for alleged violations . in accordance with the provisions of the Competition Act. According to KKV’s presentation, Uponor, together with other players in the industry, has violated the competition law by dividing the market and limiting price competition between the parties in the pipe market for plastic HVAC infrastructures in Finland in the years 2009–2016.
Uponor considers the demands unfounded. Uponor’s subsidiaries Uponor Infra Oy and Uponor Suomi Oy have not participated in activities that violate the Competition Act and do not accept such activities. The company is now carefully examining KKV’s proposal and is preparing its lawsuit to the market court. The Market Court decides on a possible fine payment. Uponor currently has no information about the schedule of the trials.
Uponor Oyj
Franciska Janzon
Director, communications and investor relations
Tel. +358 20 129 2821
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Nasdaq Helsinki
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www.uponorgroup.com
Uponor in brief
Uponor thinks about water for future generations. Our offering, which includes safe drinking water supply, 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 power plants and various industries to work faster and smarter. Uponor employs approximately 3,900 professionals in 26 countries in Europe and North America, and Uponor products are sold in more than 80 countries. In 2021, Uponor’s turnover was around 1.3 billion euros. Uponor Oyj is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com