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2009-12-03 15:09:08 CET 2009-12-03 15:10:15 CET REGULATED INFORMATION Metsäliitto Osuuskunta - Company AnnouncementThe Market Court has upheld the infringement fine recommendation of the Finnish Competition AuthorityMetsäliitto Group Stock Exchange release 3 December 2009 at 4.07 p.m. The Market Court has upheld the infringement fine recommendation of the Finnish Competition Authority The Competition Authority initiated its investigations in spring 2004 by conducting inspections, without notice, at the premises of Metsäliitto Cooperative and Stora Enso Oyj, after receiving a leniency application from UPM-Kymmene Oyj. In December 2006, the Competition Authority proposed to the Market Court that it would impose an infringement fine of EUR 30 million on Stora Enso and EUR 21 million on the Metsäliitto Cooperative. According to the Competition Authority, the conduct of these companies constituted a serious restriction of competition during 1997- to 2004 by agreeing on the prices of raw wood and exchanging confidential information related to the wood trade. Today, the Market Court upheld the recommendations of the Competition Authority and imposed an infringement fine of EUR 21 million on Metsäliitto Cooperative for breach of the competition legislation. The infringement fine imposed on Stora Enso amounts to EUR 30 million. The Market Court held that the companies were guilty of prohibited co-operation between competitors. According to the Market Court the co-operation between the forestry companies was aimed at keeping the price development of raw wood relatively stable. The ruling of the Market Court is contrary to the argument presented by Metsäliitto that the exchange of information and the discussion of non-binding pricing expectations amounted to only a mild breach of competition rules. Metsäliitto Cooperative will examine the Market Court's ruling before determining whether it will appeal to the Supreme Administrative Court. Further information: Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 465 4749 Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541 |
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