Metsähallitus statement on seeking cartel compensation from Finnish forest industry companies Stora Enso, UPM, Metsäliitto

VANTAA, Finland , January 25, 2011 (press release) – In its decision of December 2009, the Market Court found that three forest industry companies had been guilty of illegal collaboration in the roundwood market in the years 1997–2004. The decision of Market Court did not determine the amount of the loss caused by the cartel. Metsähallitus decided a year ago to take measures to lodge a claim for compensation.

The investigations relating to breach of competition law concerning timber trading have reached completion. According to the investigations the industry cartel caused Metsähallitus significant financial loss. The Metsähallitus Board of Directors today passed a decision to apply for compensation from the Metsäliitto Group, Stora Enso and UPM-Kymmene.

Metsähallitus will issue separate invitations to negotiate to the companies that participated in the cartel.

Metsähallitus is a state enterprise that is responsible for administering state-owned land and waters covering a total of some 12.5 million hectares. The enterprise administers the state’s protected areas and commercially managed forests. The turnover from business operations amounts to more than EUR 300 million.

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