Stora Enso faces a fine of €30m, while the proposed penalty for Metsäliitto is €21m. Both companies deny being part of a price fixing cartel from 1997 to 2004 and will now argue their case at the Market Court.
“We will defend our case in the Market Court,” said Kari Vainio, Stora Enso’s executive vice-president, corporate communications. “We do not see any case against us.”
But Mr Vainio said the case could rumble on for years before being resolved.
Metsäliitto’s proposed fine was reduced by 30% due to its co-operation during the competition authority’s investigation. The company has admitted that some staff had shared pricing information during 1997-2001 but denies any price fixing or being part of an organised cartel.
“We feel the Finnish Competition Authority has not been sufficiently objective in approaching the results of the investigation,” said Esa Kaikkonen, Metsäliitto’s general counsel. “In all reality, we didn’t get an opportunity to influence the proposal with our account of the events until two years after the investigation had begun.”
The competition authority has decided not to fine UPM, which originally brought the price fixing complaint.
