The Market Court has upheld the infringement fine recommendation of
the Finnish Competition Authorit
(Thomson Reuters ONE) - Metsäliitto Group Stock Exchange release 3 December 2009 at 4.07 p.m.The Market Court has upheld the infringement fine recommendation ofthe Finnish Competition AuthorityThe Competition Authority initiated its investigations in spring 2004by conducting inspections, without notice, at the premises ofMetsäliitto Cooperative and Stora Enso Oyj, after receiving aleniency application from UPM-Kymmene Oyj. In December 2006, theCompetition Authority proposed to the Market Court that it wouldimpose an infringement fine of EUR 30 million on Stora Enso and EUR21 million on the Metsäliitto Cooperative. According to theCompetition Authority, the conduct of these companies constituted aserious restriction of competition during 1997- to 2004 by agreeingon the prices of raw wood and exchanging confidential informationrelated to the wood trade.Today, the Market Court upheld the recommendations of the CompetitionAuthority and imposed an infringement fine of EUR 21 million onMetsäliitto Cooperative for breach of the competition legislation.The infringement fine imposed on Stora Enso amounts to EUR 30million.The Market Court held that the companies were guilty of prohibitedco-operation between competitors. According to the Market Court theco-operation between the forestry companies was aimed at keeping theprice development of raw wood relatively stable. The ruling of theMarket Court is contrary to the argument presented by Metsäliittothat the exchange of information and the discussion of non-bindingpricing expectations amounted to only a mild breach of competitionrules.Metsäliitto Cooperative will examine the Market Court's ruling beforedetermining whether it will appeal to the Supreme AdministrativeCourt.Further information:Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 4654749Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.12.2009 - 15:09 Uhr
Sprache: Deutsch
News-ID 9230
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