Uponor celebrates 100th anniversary by ringing Nasdaq closing bell
Uponor Corp. was invited to New York City on August 20 to close trading at the Nasdaq stock market in Times Square. Broadcast live on a billboard at 43rd Street and Broadway, this closing-bell ceremony commemorated the 100th anniversary of Uponor.
To honor the anniversary year, Uponor President and CEO Jyri Luomakoski celebrated the historic moment at the Nasdaq stock market with Bill Gray, president of Uponor North America, and a group of customers and partners.
“Uponor’s global growth has been fueled by the construction industry’s demand for plastic piping solutions — and the safe, sustainable, and efficient heating, cooling, and plumbing solutions they create,” said Luomakoski. “We are confident that our focus on growing strategic partnerships, investing in technology, and expanding for the future have positioned us well to remain the industry leader for the next 100 years.”
On August 13, 1918, Aukusti Asko-Avonius signed the papers to establish a carpentry workshop in Lahti, Finland, marking the beginnings of the Uponor story. That small workshop quickly grew into one of the largest furniture suppliers in the Nordic countries of Finland, Sweden, Norway, and Denmark.
In the late 1960s, the company expanded its business further into the international plastics industry, becoming one of the first to market with crosslinked polyethylene (PEX) piping for under-floor radiant heating and, eventually, plumbing and fire sprinkler applications — first residential and then commercial. Uponor began marketing PEX piping in North America in 1984 and commenced manufacturing operations in Apple Valley, Minnesota, in 1990.
Expanded 10 times over the past three decades, the North American headquarters production facility was honored with the Minnesota Manufacturers Alliance Manufacturer of the Year Award in both 2013 and 2018. In May, Uponor North America opened a second manufacturing facility in Hutchinson, Minnesota. The 237,000-square-foot facility was renovated and received regulatory approval in less than one year after Uponor had purchased it.