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Uponor Oyj Cancels Guidance for FY 2013 Due to Change in Company Structure


Monday, 1 Jul 2013 04:45am EDT 

Uponor Oyj announced that the Company's financial guidance for the fiscal year 2013, issued on February 12, 2013, has become void, effective July 1, 2013, as a result of the start-up of a new joint venture company, Uponor Infra Oy, combining Uponor’s and KWH Group’s infrastructure businesses. Due to restrictions under Finnish competition law, Uponor has not had sufficient access to KWH Pipe’s projections for the remainder of the year to be able to issue trustworthy guidance for the Group for 2013. Furthermore, the timing of the successful execution of the remedies set by the Market Court for the joint venture company is currently unknown, and could impact on the short term outlook. For the reasons stated above, Uponor plans to issue new guidance in connection with the presentation of the 2013 financial statements in February 2014. 

Company Quote

13.1
0.08 +0.61%
11:29am EDT