UPM-Kymmene Says European Commission Conducted Unannounced Inspection at Premises

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 [e-mail]

(END) Dow Jones Newswires

10-12-21 0731ET