Rural Businesses Appeals Board issues its decision on the appeal concerning the claim for recovery of Caternet Finland’s investment support

At the beginning of November 2012, Caternet Finland Oy received from the Uusimaa Centre for Economic Development, Transport and the Environment a decision about a claim for recovery of part of the investment support that had been granted to Caternet’s Kivikko plant in 2008–2009. The claim for recovery is being made because of the change of ownership of the company’s share capital that occurred on 27 March 2012. Under the decision, the sum to be recovered is approximately EUR 2 million.

Caternet Finland Oy considered the claim for recovery to be unfounded and decided to appeal against the decision on the claim for recovery. The Rural Businesses Appeals Board has dismissed the company’s appeal and retained in force the recovery decision of the Uusimaa Centre for Economic Development, Transport and the Environment.

The company has decided to appeal against the decision now issued and is consequently submitting a further appeal to the Supreme Administrative Court. The claim for recovery of the support will not be executed before the Supreme Administrative Court has dealt with the case and issued its judgement.

If the decision regarding the claim for recovery is not rescinded, the cost impact of this is estimated to be EUR 1.3 million. The timing of any cost recognition will be determined more specifically at a later stage. 

 

Apetit Plc

Matti Karppinen

 

Further information:

Matti Karppinen, CEO, tel.  +358 (0)10 402 00

 

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