Uponor Infra Oy and Uponor Suomi Oy deny the claims of the Finnish Competition and Consumer Authority regarding the breaches of Competition Act
Uponor Corporation, Inside information, 8 September 2022 at 12:30 EEST
Uponor Infra Oy and Uponor Suomi Oy deny the claims of the Finnish Competition and Consumer Authority regarding the breaches of Competition Act
Uponor Corporation has today received information that the Finnish Competition and Consumer Authority (FCCA) will propose that the Market Court would impose competition infringement fines to its subsidiaries Uponor Infra Oy (EUR 8.5 million) and Uponor Suomi Oy (EUR 5 million) concerning alleged violations of the Competition Act. According to the proposal of the FCCA, Uponor along with other operators in the sector have violated the Competition Act by dividing markets and restricting price competition between the parties in plastic HVAC infrastructure plumbing markets in Finland between the years 2009–2016.
Uponor deems the claims to be without foundation. Uponor’s subsidiaries Uponor Infra Oy and Uponor Suomi Oy have not participated in actions violating competition law nor accepts such behaviour. The company will now carefully study the proposal of the FCCA and prepares its plea to the Market Court. The Market Court will decide on the possible penalty payment. Uponor has currently no knowledge of the schedule of the legal proceedings going forward.
Uponor Corporation
Franciska Janzon
Senior Vice President, Corporate Communications and Investor Relations
Tel. 1
DISTRIBUTION:
Nasdaq Helsinki
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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 3,900 professionals in 26 countries in Europe and North America and Uponor’s products are sold in more than 80 countries. In 2021, Uponor's net sales totalled approximately €1.3 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki.
