Helsinki, 2011-04-01 08:15 CEST (GLOBE NEWSWIRE) -- UPM-Kymmene Corporation Stock exchange release 1 April 2011 at 09:15 EET
UPM considers Metsähallitus' claims unfounded
On 31 March 2011, Metsähallitus filed a claim for damages against UPM, Stora Enso Oyj and Metsäliitto Cooperative at the District Court of Helsinki. The claim relates to the Market Court decision of 3 December 2009 whereby UPM, Stora Enso Oyj and Metsäliitto Cooperative were deemed to have breached competition rules in the roundwood market.
According to the application for summons, Metsähallitus claims jointly and severally from the three companies an aggregate capital amount of approximately EUR 282.6 million in maximum as damages allegedly incurred by Metsähallitus in connection with the competition infringements in question. In relation to the claims on capital amounts, Metsähallitus also claims for compensation relating to value added tax and interests.
UPM will review Metsähallitus’ application for summons in detail. However, as a starting point, UPM considers the claims unfounded in their entirety. UPM is of the view that it has not caused any damage to Metsähallitus in connection with the competition infringements. UPM emphasizes that the Market Court has not investigated the alleged damage nor rendered any decision thereof. As such, the Market Court decision does not mean that UPM would have caused damage to Metsähallitus or any other party.
UPM will reply to Metsähallitus’ application for summons within a time period to be set by the District Court.
For further information, please contact:
Mr Juha Mäkelä, General Counsel, UPM, tel. +358 +358 204 15 0407
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Corporate Communications
UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
media@upm.com
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