GF to close Uponor transaction: Strong focus on value creation and attractive end markets with new piping systems setup
13 Novembre 2023 - 7:05AM
GF to close Uponor transaction: Strong focus on value creation and
attractive end markets with new piping systems setup
Uponor Corporation, Investor news, 13 November 2023 at 8.05 am
EET
GF to close Uponor transaction: Strong focus on value
creation and attractive end markets with new piping systems
setup
By joining forces with Uponor, GF is set to become a global
leader in sustainable water and flow solutions. To support this
ambition, complementary businesses will be grouped together under
one roof: the new division GF Uponor will focus on Building
Technology, whereas the infrastructure and utility business will
move to GF Piping Systems. Uponor Corporation's President and CEO
Michael Rauterkus will join GF's Executive Committee and will lead
the new GF Uponor division together with his Uponor leadership
team.
After all conditions of the tender offer have been fulfilled, GF
closes the transaction as of 13 November 2023.
To accelerate the implementation of GF Piping Systems’ Strategy
2025 and to further benefit from global megatrends, GF will start
an ambitious value creation program to unleash the full potential
of this acquisition. GF Piping Systems will focus on the industrial
and utility business, providing its customers with sustainable
leak-free piping solutions for numerous end markets such as
microelectronics, water treatment, energy, chemical processing,
marine, data centers or water & gas utilities. Uponor's
infrastructure business will become part of GF Piping Systems and
will further strengthen the division’s portfolio to provide
customers with combined solutions. In the new division
GF Uponor, the building technology businesses will be combined
to offer a complementary portfolio for safe and clean water, as
well as energy efficient heating and cooling. The consolidation of
complementary businesses provides an ideal platform to develop
markets with high potential for both divisions. As the brand Uponor
stands for high quality and innovation, it will drive growth in
intelligent Building Flow Solutions.
These organizational changes will be implemented during the
course of 2024 while GF will ensure operational excellence and
business continuity to customers.
“We will continue to implement our strategy, and leverage
powerful global trends, such as the need for safe and clean water,
or more efficient energy use,” GF CEO Andreas
Müller said. “On behalf of all my colleagues, I am happy
to welcome Uponor employees and start this new chapter
together.”
Uponor Corporation’s President and CEO Michael Rauterkus will
become a member of GF’s Executive Committee as President of the GF
Uponor division.
“I am proud to continue to steer GF Uponor together with my
leadership team. The combination of our businesses will bring more
exciting opportunities and will allow us to serve our existing and
new customers even better. Together we are creating a global leader
in sustainable water and flow solutions. We are looking forward to
a bright and successful journey together,” Michael
Rauterkus said.
With its four divisions, GF will continue to actively pursue its
vision to become a sustainability and innovation leader providing
superior customer value.
Important dates:
▪ 16 November 2023: Flow Solutions Day for
Investors & Media in Schaffhausen (Switzerland)
Media and Investor Enquiries, GF
Media Enquiries GFBeat Römer, Head Corporate Communications+41
(0) 52 631 26 77, media@georgfischer.com
Media contacts GF in Finland Niko Vartiainen, Principal
Consultant, Tekir Ltd niko@tekir.fi, +358 (0) 50 529 4299
Investor Relations GFNadine Gruber, Head Investor Relations +41
(0) 79 698 14 8, ir@georgfischer.com
Media and Investor Enquiries, UponorFranciska
Janzon, Senior Vice President, Corporate Communications/IR+358 (0)
20 129 2821franciska.janzon@uponor.com
About GFAs of 13 November 2023, GF has four
divisions: GF Piping Systems, GF Uponor, GF Casting Solutions, and
GF Machining Solutions. As a Group, GF offers products and
solutions that enable the safe transport of liquids and gases, as
well as lightweight casting components and high-precision
manufacturing technologies. As a sustainability and innovation
leader, GF strives to achieve profitable growth while offering
superior value to its customers for more than 200 years. Founded in
1802, the Corporation is headquartered in Switzerland and as of the
end of 2022, it was present in 34 countries with 138 companies, 60
of which are production companies with 83 facilities. GF’s 15’207
employees worldwide generated sales of CHF 3’998 million in
2022.
About Uponor Uponor is a leading global
provider of solutions that efficiently and effectively move water
through cities, buildings, and homes. We help customers in
residential and commercial construction, municipalities, and
utilities, be more productive – and continuously find new ways to
conserve, manage and provide water responsibly, unlocking its
potential to provide comfort, health, and efficiency. Our safe
drinking water, energy-efficient radiant heating and cooling
systems, and reliable infrastructure solutions are sold in more
than 80 countries. Uponor employs about 3,600 professionals in 26
countries in Europe and North America. In 2022, the company’s net
sales totalled approximately €1.4 billion. Uponor Corporation is
based in Finland and listed on Nasdaq Helsinki. Uponor is part of
the Georg Fischer group, located in Schaffhausen (Switzerland).
www.uponorgroup.com
Uponor Oyj (TG:UPN)
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