Metsäliitto considers the claims of Metsähallitus unfounded
Metsäliitto Group Stock Exchange Release 1 April 2011 at 12.30 pm
Metsähallitus has filed a claim for damages against Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Oyj at the District Court of Helsinki on 31 March 2011. Metsäliitto considers the claims of Metsähallitus unfounded. The claim relates to the Market Court decision of 3 December 2009, whereby the respective companies were deemed to have breached the restrictive trade practises.
Metsäliitto will review the application for summons of Metsähallitus carefully. However, as a starting point, Metsäliitto considers the claims unfounded. Metsäliitto has caused no damage to the forest owners, including Metsähallitus. According to Metsäliitto, during 1997–2004 the companies had shared information and discussed non-binding price expectations in a scale that can only be considered as a slight competition breach. Thus Metsäliitto has not caused any damage to forest owners and the company considers the application of summons of Metsähallitus unfounded. Furthermore, the Market Court could not either demonstrate any proof of the negative market effects that would have caused damage to the forest owners.
According to the application for summons, Metsähallitus claims jointly from the three companies an aggregate capital amount of approximately EUR 282.6 million in maximum. On top of this, Metsähallitus also claims for compensation relating to value added tax and interests.
Esa Kaikkonen, Group General Counsel, Metsäliitto Group, tel. +358 10 465 4749
Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541