November 28, 2013 / 8:17 AM / in 4 years

Lemminkainen to pay up to 34 mln euros for price fixing - court

HELSINKI, Nov 28 (Reuters) - Construction company Lemminkainen was told to pay up to 34 million euros ($46 million) in damages to Finnish local governments for fixing asphalt prices with competitors, a Helsinki district court ruled on Thursday.

Lemminkainen said it would record the cost of the damages in its fourth-quarter results and warned that, as a result, 2013 results would be “clearly negative”.

The case relates to a nationwide asphalt cartel that operated in 1994-2002, according to a 2009 decision by a supreme administrative court.

$1 = 0.7367 euros Reporting By Jussi Rosendahl; editing by Tom Pfeiffer

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