HELSINKI--(BUSINESS WIRE)--Regulatory News:
STORA ENSO OYJ STOCK EXCHANGE RELEASE 22 June 2016 at 13.50 EET
In its ruling issued today, the Helsinki District Court dismissed Metsähallitus’ claim for damages against Stora Enso Oyj (STO:STER), (HEX:STEAV), (STO:STEA), (HEX:STERV), Metsäliitto Cooperative and UPM-Kymmene Oyj. The claim was based on the competition infringement found by the Finnish Market Court in its decision on 3 December 2009.
According to Metsähallitus’ claim, the companies had caused damage to Metsähallitus through the competition infringement found by the Market Court in its decision on 3 December 2009. According to Metsähallitus, the companies had purchased roundwood from Metsähallitus below market prices during 1997–2005.
Originally in 2011, Metsähallitus was claiming compensation for damage in a capital amount of EUR 282.5 million. The claim was reduced during the legal proceedings to EUR 159.4 million, of which approximately EUR 87.2 million were based on roundwood transactions between Metsähallitus and Stora Enso.
Stora Enso considers the ruling by the District Court to be correct, and denies that Metsähallitus suffered any damages.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market. storaenso.com (http://www.storaenso.com/)
STORA ENSO OYJ
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