Court proceedings for damages start against the asphalt industry
LEMMINKÄINEN CORPORATION ONLINE RELEASE 17 SEPTEMBER 2012
In 2009, the Supreme Administrative Court (SAC) ordered 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.
As a result, claims for damages brought by a total of 40 municipalities and one by the Finnish state (Finnish Transport Agency) are pending against Lemminkäinen and other defendants in the Helsinki District Court. The municipalities and state contend that restriction of competition resulted in inflated prices in the asphalt industry in 1995–2002 and caused them damages. The total amount of damages sought from Lemminkäinen is EUR 123 million. The District Court will process the claims as from 17 September 2012. The court cases are expected to be concluded in summer 2013.
“At Lemminkäinen, we take violations of competition legislation very seriously. However, we do not consider that we have caused the municipalities and the state the damage they claim to have suffered, and thus in our view the claims for damages are without foundation,” says Johan Nybergh, Vice President, Legal Affairs.
Additional information: http://www.lemminkainen.com/Investors/Lemminkainen_as_an_investment/Asphalt_cartel_issue