Outokumpu's final statement to the Finnish Customs related to exports
to Russia: all suspicions groundless
PRESS RELEASE
May 19, 2009 8.30 am
Outokumpu has delivered its final statement to the Finnish Customs
related to the preliminary investigation concerning the company's
export practices to Russia. In the final statement Outokumpu denies
its personnel or group company having committed any of the crimes
alleged by the Finnish Customs.
Roschier Attorneys Ltd, a leading law firm based in Helsinki, has on
Outokumpu's assignment examined the preliminary investigation
material, and concludes that it includes no evidence that any
employees of Outokumpu Stainless Oy or the company itself had
committed forgery or accounting offence, alleged by the Customs.
Outokumpu Group's Auditor, KPMG Oy Ab, also states that suspicions
related to false financial statements practices are groundless.
In March 2007, Finnish Customs authorities initiated a criminal
investigation into Outokumpu Stainless Oy's export practices to
Russia. The preliminary investigation is connected with another
preliminary investigation concerning a forwarding agency based in
South-Eastern Finland. Outokumpu took Custom's accusations extremely
seriously and immediately initiated its own investigation. Roschier
was retained to carry out an independent investigation. As the
outcome of the investigation Roschier stated already in June 2007,
that it had found no evidence of any of the crimes alleged by the
Finnish Customs.
Outokumpu management is satisfied with the results of Roschier's and
KPMG's work, reconfirming the conclusions of the previous
investigations. During the preliminary investigation, the company has
co-operated with the authorities in order to assist in reaching a
conclusive outcome on the issue at hand.
For more information please contact:
Matti Louhija, SVP - Corporate General Counsel, tel. +358 9 421 5508,
mobile +358 40 501 5056
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
