Finnish Competition Authority does not propose fine to UPM on investigation in raw wood procurement in Finland

(UPM, Helsinki, December 21, 2006) – The Finnish Competition Authority has today given its proposal to the Finnish Market Court on the investigation in raw wood procurement in Finland. The Finnish Competition Authority considers that certain companies have been engaged in prohibited competitor cooperation in raw wood procurement from 1997 to 2004.

The Finnish Competition Authority does not propose a fine to UPM since the company has fulfilled the conditions of the Article 9 of the Finnish Act on Competition Restrictions to be released from fines. The Finnish Competition Authority proposes that the Finnish Market Court impose fines of altogether about EUR 50 million to the other parties.

UPM received the Finnish Competition Authority's draft proposal to the Finnish Market Court in April 2006. The Finnish Competition Authority started its investigations in raw wood procurement in spring 2004 after UPM had contacted the authority.

For more information, please contact:
Mr Petri Meurman, Group Legal Counsel, UPM, tel. +358 204 15 0740