UPM-Kymmene Says European Commission Conducted Unannounced Inspection at Premises
October 12 2021 - 6:46AM
Dow Jones News
By Dominic Chopping
Finnish pulp and paper manufacturer UPM-Kymmene Oyj said Tuesday
that the European Commission is conducting an unannounced
inspection at its premises.
A press release from the commission Tuesday said it is
conducting unannounced inspections at the premises of companies
active in the wood pulp sector in several member states amid
concerns they may have violated European Union antitrust rules that
prohibit cartels and restrictive business practices.
"At this stage, UPM does not have information on the outcome of
the inspection," it said.
"UPM supports the commission in its investigation but cannot
comment any further on the ongoing investigation," the company
said.
UPM shares at 1115 GMT were trading down 3.8% at EUR29.89.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 12, 2021 07:31 ET (11:31 GMT)
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