Stora Enso Oyj
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Stora Enso Oyj

April 05, 2006 08:49 ET

Finnish Competition Authority Requests a Response From Stora Enso Concerning Alleged Price Collaboration in Wood Procurement in Finland

HELSINKI, FINLAND--(CCNMatthews - April 05, 2006) - Stora Enso Oyj (NYSE: SEO) today announced that it has today received from the Finnish Competition Authority a request for a response concerning alleged price collaboration and exchange of information between forest companies in connection with the purchasing of timber in Finland. At this time, Stora Enso will investigate the matter and intends to provide its response within the given time limit. The Finnish Competition Authority has requested the response by 15 May 2006.

The Finnish Competition Authority alleges that UPM-Kymmene, Stora Enso and Metsaliitto have engaged in illegal price collaboration and exchange of information in connection with the purchasing of timber in the period from 1997 to 2004 in violation of the Finnish Act on Competition Restrictions and Article 81 of the European Community Treaty.

According to the information received from the Finnish Competition Authority, it will decide whether to take the matter to the Finnish Market Court when it has received the responses from all the companies involved in this matter. As a result of this and because Stora Enso cannot estimate the amount of any fine that may be imposed as a result of the Finnish Competition Authority's request, it has not made any provision in its accounting.

STORA ENSO IN BRIEF

Stora Enso is an integrated paper, packaging, and forest products company, producing publication and fine paper, packaging board, and wood products -- all areas in which the Group is a global market leader. Stora Enso's sales totalled EUR 13.2 billion in 2005. The Group has some 46,000 employees in more than 40 countries on five continents. Stora Enso has an annual production capacity of 16.9 million tonnes of paper and board and 7.7 million cubic metres of sawn wood products, including 3.3 million cubic metres of value-added products. Stora Enso's shares are listed in Helsinki, Stockholm, and New York.


Contact Information

  • Jyrki Kurkinen
    Senior Vice President
    Legal Affairs
    tel. +358 2046 21217
    or
    Kari Vainio
    Executive Vice President
    Corporate Communications
    tel. +44 77 9934 8197
    www.storaenso.com
    or
    www.storaenso.com/investors
    Stora Enso Oyj
    Kanavaranta 1
    FIN-00160 HELSINKI, Finland
    Tel. +358 2046 131
    or
    www.storaenso.com
    Business ID 1039050-8