Stora Enso refrains from appealing against Finnish Market Court ruling
STORA ENSO OYJ STOCK EXCHANGE RELEASE 21 December 2009 at 14.00 GMT
Stora Enso has decided to refrain from appealing to the Supreme Administrative
Court against the ruling of the Finnish Market Court on collaboration and
exchange of information with other forest products companies concerning prices
for purchasing roundwood in Finland from 1997 to 2004. However, the Group
emphasises that this does not mean the ruling of the Finnish Market Court is
right in Stora Enso's opinion.
The Finnish Market Court ordered Stora Enso to pay a EUR 30 million penalty for
collaboration and exchange of information with other forest products companies
concerning prices for purchasing roundwood in Finland from 1997 to 2004. In its
ruling issued on 3 December 2009, the Finnish Market Court found that Stora
Enso, UPM-Kymmene and Metsäliitto Cooperative had infringed the Act on
Competition Restrictions by exchanging detailed information. In the opinion of
the Market Court, no specification of the economic benefit of the infringement
of competition restrictions had been presented.
Stora Enso will record a EUR 30 million negative non-recurring item related to
the penalty in its fourth quarter 2009 results.
For further information, please contact:
Lauri Peltola, Head of Group Communications, tel. +358 2046 21380
www.storaenso.com
www.storaenso.com/investors
Stora Enso is the world leader in forest industry sustainability. We offer our
customers solutions based on renewable raw materials. Our products provide a
climate-friendly alternative to many non-renewable materials, and have a smaller
carbon footprint. Stora Enso is included in the Global 100 list of the world's
most sustainable companies. Stora Enso is also listed in the Dow Jones
Sustainability Index, the FTSE4Good Index, and the Climate Disclosure Leadership
Index. Stora Enso employs 29 000 people worldwide, and our sales in 2008
amounted to EUR 11.0 billion. Stora Enso shares are listed on NASDAQ OMX
Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares
are traded in the USA as ADRs (SEOAY) in the International OTCQX
over-the-counter market.
STORA ENSO OYJ
Jari Suvanto Ulla Paajanen-Sainio