UPM considers Metsähallitus claims unfoundedStock Exchange Release 1.4.2011 9:15 EEST
UPM considers Metsähallitus' claims unfounded
On 31 March 2011, Metsähallitus filed a claim for damages against UPM, Stora
Enso Oyj and Metsäliitto Cooperative at the District Court of Helsinki. The
claim relates to the Market Court decision of 3 December 2009 whereby UPM,
Stora Enso Oyj and Metsäliitto Cooperative were deemed to have breached
competition rules in the roundwood market.
According to the application for summons, Metsähallitus claims jointly and
severally from the three companies an aggregate capital amount of approximately
EUR 282.6 million in maximum as damages allegedly incurred by Metsähallitus in
connection with the competition infringements in question. In relation to the
claims on capital amounts, Metsähallitus also claims for compensation relating
to value added tax and interests.
UPM will review Metsähallitus' application for summons in detail. However, as a
starting point, UPM considers the claims unfounded in their entirety. UPM is of
the view that it has not caused any damage to Metsähallitus in connection with
the competition infringements. UPM emphasizes that the Market Court has not
investigated the alleged damage nor rendered any decision thereof. As such, the
Market Court decision does not mean that UPM would have caused damage to
Metsähallitus or any other party.
UPM will reply to Metsähallitus' application for summons within a time period
to be set by the District Court.
For further information, please contact:
Mr Juha Mäkelä, General Counsel, UPM, tel. +358 +358 204 15 0407
Executive Vice President, Corporate Communications
UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
NASDAQ OMX Helsinki Ltd