Claims related to the Finnish roundwood market delivered to UPM
Feb 10, 2012
OTC Disclosure News Service
Helsinki, Finland – 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.
For further information, please contact:
Juha Mäkelä, General Counsel, UPM, tel. +358 204 15 040
Sami Latva, Group Legal Counsel, UPM tel. +358 204 15 0206
Executive Vice President, Corporate Communications
UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284
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