Business News

Stora Enso fined EUR 30 million for collaboration and exchange of information with other forest products companies concerning prices for purchasing roundwood in Finland from 1997 to 2004

Friday 04. December 2009 - Stora Enso has been ordered 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 today, the Finnish Market Court found that Stora Enso, UPM-Kymmene and Metsäliitto Cooperative had infringed the Act on Competition Restrictions by exchanging detailed information.

Although the companies had not been proved to
have agreed prices for purchasing roundwood, the Market Court regarded the
collaboration as intended to stabilise roundwood prices. In the opinion of the
Market Court, no specification of the economic benefit of the infringement of
competition restrictions had been presented. Initially, the Competition
Authority had proposed in 2006 that a EUR 30 million penalty payment be imposed
on Stora Enso.

Stora Enso will examine the ruling and then decide whether to appeal to the
Supreme Administrative Court.

No provision has been made in Stora Enso’s accounts for this matter. Stora Enso
will record a EUR 30 million negative non-recurring item related to it in its
fourth quarter 2009 results.