UPM has recieved claims totalling €54.1m in relation to the Market Court decision on breaching competition rules in the Finnish roundwood market.
In December 2009 the Market Court ruled that between 1997-2004 Metsäliitto Co-operative, Stora Enso and UPM were guilty of national price co-operation and exchanging information about purchasing timber.
Stora Enso was fined €30m and Metsäliitto €21m but UPM escaped punitive measures as it disclosed information on the cartel. Metsäliitto’s fine was reduced by 30% because of the assistance it gave the authorities.
Claims against UPM come from stated-owned forest enterprise Metsäallitus, as well as individuals, companies and local authorities.
UPM says it considers all the claims unfounded and has made no provision in its accounts.
