Finnish companies fined €51m under competition rules

Stora Enso has been fined €30m and Metsäliitto €21m for falling foul of competition rules with respect to roundwood purchasing in Finland.

The Finnish Market Court imposed the fines for collaboration and exchange of information concerning prices for purchasing roundwood in Finland from 1997 to 2004.

UPM, which was also involved, escaped a fine because it blew the whistle to regulators.

The companies had not been proved to have agreed prices for purchasing roundwood, but the market court regarded the collaboration as intended to stabilise prices.

The Competition Authority had initially agreed fines on the companies in 2006.

Stora Enso said it would examine the ruling before deciding whether to appeal to the Supreme Administrative Court.