UPM-Kymmene Corporation Stock Exchange Release 22 June 2016 at 13:40 EET
The District Court dismissed the claim of Metsähallitus
The Helsinki District Court has today rendered a judgement whereby it has dismissed the damages claim of Metsähallitus against UPM, Stora Enso Corporation and Metsäliitto Cooperative, which was based on the competition restriction concerning the raw wood market found by the Marker Court decision of 3 December 2009.
The District Court ordered Metsähallitus to pay UPM compensation for legal expenses.
According to Metsähallitus' claim, the forestry companies had caused damage to Metsähallitus on the basis of the competition restriction found by the Market Court decision of 3 December 2009. Metsähallitus claimed that due to the competition restriction the forestry companies had paid underprice to Metsähallitus in raw wood sales contracts. The capital amount of Metsähallitus' claim was in total approximately EUR 159.4 million, of which approximately EUR 22.6 million was based on agreements between Metsähallitus and UPM.
UPM agrees with the District Court ruling. UPM maintains that it has not caused the alleged damage to Metsähallitus. Metsähallitus may appeal the District Court judgment to the Court of Appeal.
For further information please contact:
Juha Mäkelä, General Counsel, UPM, tel. +358 20 415 0407
Executive Vice President, Stakeholder Relations
UPM, Media Relations
tel. +358 40 588 3284
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com