Uponor Corporation Stock exchange release 25 November 2015 12.00 EET
Administrative Court of Helsinki, Finland rejects Uponor’s tax appeals from 2013
By a vote of two to one, the Administrative Court of Helsinki has rejected the appeals of Uponor Corporation and its subsidiary Uponor Business Solutions Ltd, submitted in July 2013. The case concerns taxation adjustment decisions made by the Large Taxpayers’ Office in 2011, which Uponor viewed as being ungrounded. Uponor issued stock exchange releases on this case on 23 December 2011, 30 December 2011 and 14 May 2013.
This decision by the Administrative Court will not lead to any new payments or payment returns at this stage, and will therefore not affect Uponor’s consolidated cash flow.
Uponor does not agree with the dismissal of the case by the Administrative Court and plans to seek leave to appeal to the Supreme Administrative Court within the statutory 60 day period.
For further information, please contact:
Riitta Palomäki, CFO, tel. +358 20 129 2822
Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852
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Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. The Group employs approx. 3,800 persons, in 30 countries. In 2014, Uponor's net sales exceeded €1 billion. Uponor Corporation is listed on Nasdaq Helsinki in Finland. www.uponor.com