Stora Enso Refrains From Appealing Finnish Market Court Ruling
Dec. 21, 2009 (Press Release) - Stora Enso has decided to refrain from appealing to the Supreme Administrative Court against the ruling of the Finnish Market Court on collaboration and exchange of information with other forest products companies concerning prices for purchasing roundwood in Finland from 1997 to 2004.
However, the Group emphasises that this does not mean the ruling of the Finnish Market Court is right in Stora Enso's opinion.
The Finnish Market Court ordered Stora Enso to pay a EUR 30 million penalty for collaboration and exchange of information with other forest products companies concerning prices for purchasing roundwood in Finland from 1997 to 2004.
In its ruling issued on 3 December 2009, the Finnish Market Court found that Stora Enso, UPM-Kymmene and Metsaeliitto Cooperative had infringed the Act on Competition Restrictions by exchanging detailed information. In the opinion of the Market Court, no specification of the economic benefit of the infringement of competition restrictions had been presented.
Stora Enso will record a EUR 30 million negative non-recurring item related to the penalty in its fourth quarter 2009 results.
SOURCE: Stora Enso
See related story
» Finnish Court Fines Stora Enso, Metsaliitto in Price Collaboration Case (12/3/2009)