Finnish pipe manufacturer Uponor’s (Vantaa; www.uponor.com) has acquired Capricorn (Świebodzice / Poland; www.capricorn.pl), a producer of plastic components for the heating and sanitary industries. Financial details were not disclosed. Capricorn reported a turnover of almost EUR 25m in 2020 and a workforce of 400.

Meanwhile, Uponor said its margins are being squeezed by high raw material costs and supply chain problems. In the third quarter, adjusted operating profit fell 23% year-on-year to EUR 38.1m despite a 6.8% increase in turnover to EUR 321.4m.

Previous margin gains were largely eroded in view of this development, as a look at the nine-month figures shows: growth in adjusted operating profit – up 16% to EUR 133.8m within a year – was only slightly higher than the 15% increase in turnover. The company said 43.7% of EUR 983.9m in nine-month revenue was generated by the European business, with the rest coming from the North America division and infrastructure operations.