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Stora Enso Takes Action to Respond to the Competition Authority Investigations

Friday, June 11, 2004

Press release from the issuing company

HELSINKI, Finland, June 10 -- Stora Enso today announced that following the inspections carried out at its locations in Europe and receipt of the subpoenas in the USA, Stora Enso is taking steps to respond to the investigations. The Group has appointed the law firms of Van Bael & Bellis in Brussels and Sivenius & Suvanto in Helsinki to review the documents given to the European Commission and the Finnish Competition Authority. In the USA, the law firm McDermott, Will & Emery is assisting the Group in preparing the responses to the authorities. "Stora Enso has had a longstanding competition compliance policy and the organisation has been trained for implementing it. Therefore, Stora Enso is treating these issues seriously," says CEO Jukka Harmala. The investigations in both Europe and the USA are at a preliminary stage and no legal proceedings have been initiated charging the Group or any of its employees with unlawful conduct.

 

 

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