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Finnish Court Fines Stora Enso, Metsaliitto in Price Collaboration Case

Dec. 3, 2009 - In a ruling today, Finland's Market Court slapped price fixing fines of EUR 30 million on Stora Enso and EUR 21 million on Metsaliitto Cooperative for their part in collaborating to set the price of roundwood purchased by the companies over a 7-year period.

In a written statement, Metsaliitto said that the Competition Authority deemed "the conduct of these companies constituted a serious restriction of competition during 1997 to 2004 by agreeing on the prices of raw wood and exchanging confidential information related to the wood trade.

Stora Enso emphasized that the Market Court indicated that the prices were not actually fixed, but that the Court regarded the collaboration as "intended to stabilize roundwood prices."

UPM-Kymmene also had been involved, but the company brought the case to the attention of the regulators and the Market Court said the firm would not be fined

Both Stora Enso and Metsaliitto said that they will examine the ruling and then decide whether to appeal to the Supreme Administrative Court.

SOURCE: Stora Enso and Metsaliitto




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