UPM receives €54.1M in claims related to Market Court decision on breaching competition rules in Finnish roundwood market in 2009; capital amount of all claims directed at the three companies involved is €227.7M
February 10, 2012
– UPM has received claims relating to the Market Court decision on breaching competition rules in the Finnish roundwood market (3 December 2009).
The capital amounts of all of the claims amount to EUR 227.7 million in the aggregate jointly and severally from UPM and two other companies, or alternatively and individually from UPM in the aggregate EUR 54.1 million. In addition to the claims on capital amounts, the claimants also claim for compensation relating to value added tax and interests.
In addition to the state owned forest administrator Metsähallitus, also individuals and companies, as well as municipalities and parishes have filed claims.
UPM estimates that the aggregate amounts of the claims will not significantly change but will provide further information on the claims in its interim reviews as appropriate.
UPM considers all the claims unfounded in their entirety. No provisions have been made in UPM’s accounts for any of the claims.