UPM has received an EU Commission Statement of Objection concerning alleged antitrust activities in the market for plastic industrial sacks. UPM manufactured plastic industrial sacks until December 2000 when UPM sold the PE films and sacks business of UPM's Converting Materials Division to the German company, Rheinische Kunststoffwerke GmbH. The turnover of the transferred business in 1999 was EUR 74 million.
According to the Statement of Objection, the manufacturers of plastic industrial sacks have been involved in allocating markets and fixing prices. UPM will respond to the Statement of Objection as requested by the Commission.
For further information, please contact:
Mr Petri Meurman, Legal Counsel, tel. + 358 40 506 5978
May 4, 2004