EC conducts unannounced inspections of Finnish wood processing giants on suspicion of collusion

The European Commission’s antitrust authorities on Tuesday began unannounced inspections of Finnish wood processing giants UPM and Stora Enso, suspecting a cartel conspiracy due to soaring pulp prices, the company said in a press release.
“The competition authorities of the European Commission today started an unannounced inspection at UPM’s premises. The Commission is concerned that companies in the pulp sector may have violated EU antitrust rules that prohibit cartels, ”UPM said in a statement.
Stora Enso adds that it supports the European Commission in its investigation.
The EC said in a statement that unannounced checks do not automatically mean that companies have violated Union rules.