GlobeNewswire
Summary
Uponor Corporation’s subsidiary, Uponor Infra Oy has today entered into an agreement to sell its district energy business to ISOPLUS Suomi Oy, part of ISOPLUS Group, a leading manufacturer of district heating pipes in Europe. The sale agreement includes Uponor’s district energy businesses in Finland, Sweden, Estonia, and Norway as well as its district energy production located in Vaasa, Finland. The district energy business had a net sales level of approximately €40 million in 2022. The transaction will be completed on 31 March 2023. The value of the transaction is not disclosed.
“The divestment is in line with Uponor Infra’s strategy that focuses on growing its core business. While district energy is an attractive sector, it has limited synergies with the core Uponor Infra business and we are pleased that our district energy business can now develop to its full potential under ISOPLUS’ ownership,” says Sebastian Bondestam, President, Uponor Infra division.
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