LEMMINKÄINEN CORPORATION ONLINE RELEASE 8 OCTOBER 2013
In the Helsinki District Court, claims for damages brought by a total of 39 municipalities and one by the Finnish state (Finnish Transport Agency) have been pending against Lemminkäinen and other asphalt industry companies since September 2012. The District Court announced on 8 October that it will announce its decisions on these claims on 28 November 2013.
Behind the claims for damages lies the Supreme Administrative Court (SAC) order for seven Finnish asphalt industry companies and the Finnish Asphalt Association (Lemminkäinen, VLT-Trading Oy’s bankruptcy estate, Skanska Asfaltti, NCC, Interasfaltti, Rudus Asfaltti, SA-Capital and Super Asfaltti) to pay an infringement fine for violations of the Act on Competition Restrictions in 2009. The municipalities and state contend that restriction of competition resulted in inflated prices in the asphalt industry in 1994–2002 and caused them damages. The total amount of damages sought from Lemminkäinen is EUR 121 million.
More information: http://www.lemminkainen.com/Investors/Lemminkainen_as_an_investment/Asphalt_cartel_issue