NEWS


Uponor sales fall in first half of the year


Pipes specialist Uponor says that sales and profits fell in the first half of 2023. The company posted sales of €645 million (US$708m) – a dip of more than 13%. At the same time, its operating profit of €85m (US$93m) was around 5% lower on the same period in 2022. For the second quarter alone, sales


fell more than 20% while profit fell 17%, compared to the same period last year. “The second quarter saw a strong


comparable operating profit margin – exceeding the previous year’s level,” said Michael Rauterkus, president and CEO. “Net sales adjusted for structural changes decreased by 16.7% due to soft overall market demand.” Building solutions in Europe saw a 16% dip in sales in H1 – and a one-third fall in profits – while North American sales fell by only 1%, with profits down nearly 3%. The infra- structure division saw sales fall by 26% in the period – while profits doubled.


In the short term, Uponor expects construction markets to remain soft overall – especially in the new housing segment – in the second half of the 2023. Although some indica-


tors have shown “tentative signs of stabilisation” the construction market “continues to experience headwinds”. Uponor said that high mortgage interest rates, the effects of inflation, and consumer uncertainty, would continue to constrain the initiation of new construction projects. Uponor now expects full-year sales


to reach €1250-1350m (US$1370- 1480m) – slightly down on an earlier forecase – which partly reflects the divestment of its district energy business, and the closure of a factory in Denmark. The company is likely to become


part of Georg Fischer of Switzerland by the end of this year. � www.uponor.com


Long-term supply for PVDF


Materials specialist Solvay has signed a long-term agreement to supply pipemaker Agru with its Solef polyvi- nylidene fluoride (PVDF) – to make ultra-pure water piping systems for the semiconductor industry. “This agreement further reinforces the bond between our companies, and we look forward to continuing to grow our partnership with Agru,” said Peter Browning, president of Solvay’s specialty polymers global business unit.


www.pipeandprofile.com © 2023 INVISTA. All rights reserved.


The resins are used in the semi- conductor industry to make pipes, tubing and fittings that are used in water piping systems. Alois Gruber, CEO of Agru, added: “Our customers trust us for the quality and reliability of our prod- ucts. Working with Solvay to secure Solef PVDF supplies will strengthen


our market position.” � www.solvay.com � www.agru.at


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IMAGE: UPONOR


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