Uponor to acquire manufacturing facility in the US
Uponor has invested 5.6 million euros in a new manufacturing facility in the US town of Hutchinson, Minnesota.
The agreement to acquire the 22 000-square metre facility was made by Uponor North America, the North American segment of Uponor’s Building Solutions, and is expected to close by the end of August 2017.
The space will be used for the expansion of Uponor’s PEX pipe manufacturing operations. It comes at a time when Uponor forecasts continued long-term growth in commercial and residential construction, while its current premises in Apple Valley, Minnesota, have reached capacity.
“We have witnessed weaker than anticipated net sales development in Building Solutions – North America in the first half of the year, which has partly been caused by our inability to meet customer demand for our products,” says Jyri Luomakoski, president and CEO of Uponor.
“The new facility in Hutchinson will allow Uponor to increase production capacity, pending regulatory approvals, in time to satisfy expected growth in demand in 2019.”