Finnish Faucet Manufacturer Buys Share of Uponor
May 26, 2000
Finnish faucet manufacturer Oras Oy has purchased 6,000,000 shares in plastic tube manufacturer Uponor, which represents 15.5% of the shares and votes in the company. “The investment in Uponor has been considered for a long time,” Pekka Paasikivi, President and CEO of Oras said. “Both companies operate in the area of housing technology, where the trend is toward bigger and more integrated systems. For Oras, the investment in Uponor represents a long-term, industrial investment.” The stock purchase is interesting because Oras Oy, a relatively small company, is only one-tenth the size of Uponor, the company it is buying into.