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Uponor of Finland has acquired Velta UK, the West Yorkshire-based underfloor heating firm with 53 staff.

Uponor of Finland has sold its UK-based thermoplastic pipes business, including 470 staff in Derbyshire, County Durham and Northern Ireland, to private equity firm 3i for £100m, and the business will be renamed Radius Systems.

Uponor is planning to relocate its plastic pipes extrusion business from Cork to its Banbridge site in Northern Ireland by the end of 2008, with the transfer of some of the 60 staff.