Pipe manufacturer Uponor (Vantaa / Finland; www.uponor.com) has found a successor for its outgoing CEO, Jyri Luamakoski (see Plasteurope.com of 22.02.2021): from 21 August 2021 onward, Michael Rauterkus will take over the helm at the Finnish processor.

Rauterkus has been part of the plastics industry before Uponor as well, working from 2004 to 2006 as head of Northern Europe for toy manufacturer Hasbro (Pawtucket, Rhode Island / USA; www.hasbro.com). He then moved to Grohe (Hemer / Germany; www.grohe.com), where he was CEO from 2015 to 2019.

Rauterkus can – as of now – look forward to leading an economically prosperous company: after the Finnish firm generated above-average growth in turnover and profit in 2020, the first quarter of 2021 followed the trend. Turnover rose by 11.4% to EUR 309.2m compared to the same period in the previous year. EBIT grew by 64.4% to EUR 47m. The main reason, according to departing CEO Luamakoski, was a strong and sustainable construction industry in the US and Europe.

Luamakoski, however, also urged caution: “The aftermath of the Texas winter storms, combined with increased global demand for polymers, has led to supply bottlenecks.” This could cause production constraints and delayed deliveries, he added, noting that price increases resulting from the shortage of materials may also threaten the profitability of Uponor’s business over the course of the year.