The Helsinki Court of Appeal has rejected the claims of Metsähallitus in the raw wood case
Metsä Group Stock Exchange Release 21 May 2018 at 11.30 am EEST
On 21.5.2018, the Helsinki Court of Appeal rendered its judgment in a case in which Metsähallitus claims damages from Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Corporation based on their conduct on the wood market in 1997–2004. In its judgment, the Court of Appeal rejected the claims made by Metsähallitus and ordered Metsähallitus to compensate the defendants’ legal costs.
The total amount of the joint and several claim for damages made by Metsähallitus in the Court of Appeal was 124.9 million euros. Metsäliitto Cooperative’s share of the capital of the claimed damages was 39.1 million euros. In addition, Metsähallitus claimed compensation for indirect damages, VAT, interest and compensation for legal costs.
The Helsinki Court of Appeal has in its judgement concluded that the companies’ conduct has not been shown to have had a lowering impact on wood prices in 1997–2004.
The judgment of the Court of Appeal is not final.
For further information, please contact:
Miika Arola, Group General Counsel, Metsä Group, tel. +358 10 465 4205
Metsä Group is a forerunner in sustainable bioeconomy utilising renewable wood from sustainably managed northern forests. Metsä Group focuses on wood supply and forest services, wood products, pulp, fresh fibre paperboards and tissue and cooking papers.
Metsä Group’s sales totalled EUR 5.0 billion in 2017, and it employs approximately 9,100 people. The Group operates in nearly 30 countries. Metsäliitto Cooperative is the parent company of Metsä Group and is owned by approximately 104,000 Finnish forest owners.