The Finnish Competition Authority, which led raids across Finland, stated it would now look at the information obtained to assess the situation.

Its director general Matti Purasjoki said the investigations could takes months, or even up to a year before charges, if any, come to fruition.

US giant International Paper confirmed its offices had been visited in the US, while Stora Enso's North American division also received a subpoena for documents from the Antitrust Division of the US Department of Justice.

In addition, flexible packaging and pressure sensitive materials producer Bemis was also visited in relation to the European investigation.

Myllykoski's magazine and newsprint mill at Ettringen and a plant at Dachau was also the subject of inquiries by the German competition authority, Bundeskartellant.

The inquiries relate to allegations of price-fixing in the purchasing of recovered paper, and also saw a raid conducted on Mayr-Melnhof Karton, although its chief executive Willhelm Hrmanseder stressed that there had been no material findings.

Ahlstrom confirmed it had been subject to European Commission investigators, with regard to allegations of anti-competitive practices in the release liners and face stock product segments sectors.

Avery Dennison stated it was also the subject of inquiries with regard to anti-competitive activities relating to the adhesive labelstock market.

Finnish forestry group Metslitto was also the subject of a raid, this time in relation to cooperation between competitors in the procurement of roundwood and woodchip materials.

Story by Andy Scott