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Supreme Court did not grant Metsähallitus leave to appeal

Investor news 29.1.2019 9:30 EET

(UPM, Helsinki, 29 January 2019 at 9:30 EET) - In 2011, Metsähallitus (a Finnish state enterprise, which administers state-owned land) filed a claim for damages against UPM and two other Finnish forest companies. The claim relates to the decision of December 2009 in which the Finnish Market Court held that the defendants had breached competition rules in the Finnish roundwood market.

On 21 May 2018, Helsinki Court of Appeal rejected the damages claim of Metsähallitus and ordered Metsähallitus to pay compensation for legal expenses. Metsähallitus requested leave to appeal from the Supreme Court. The principal amount of Metsähallitus claim was in total EUR 61.8 million, of which EUR 3 million is based on agreements between UPM and Metsähallitus.

The Supreme Court announced today that it did not grant Metsähallitus leave to appeal, as a result of which the judgment of the Court of Appeal remains final.

For further information please contact:
Juha Mäkelä, General Counsel, UPM, tel. +358 20 415 0407

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. We employ around 19,100 people worldwide and our annual sales are approximately EUR 10 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com

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