commiss decis novemb declar concentr compat common market function eea agreement case comp upm kymmen haindl case comp norsk skog parenco walsum notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area eea agreement articl thereof regard council regul eec decemb control concentr undertak amend regul ec articl thereof regard commiss decis juli initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr regard final report hear offic june commiss receiv notif propos concentr finnish firm upm kymmen hereinaft upm intend acquir sole control german compani haindl sche papierfabriken kgaa haindl purchas share haindl dai commiss receiv notif concentr concern resal haindl mill haindl parenco netherland walsum mill germani upm kymmen norwegian paper manufactur norsk skog examin notif commiss conclud notifi oper fell scope regul eec hereinaft merger regul rais doubt compat common market function eea agreement investig case commiss conclus propos concentr creat collect domin posit result effect competit common market function eea agreement significantli imped parti upm kymmen hold compani corpor group activ primarili forestri product industri divid princip busi area print paper newsprint magazin fine paper divis convert convert materi wood product sawn timber plywood haindl famili own compani activ paper industri activ haindl group region airlin augsburg airwai transfer haindl sharehold prior close transact question decemb latest norsk skog compani activ forest product industri core busi activ product sale wood print paper newsprint magazin ii oper concentr propos takeov haindl compris step step upm kymmen acquir entir capit haindl step concern resal upm kymmen norwegian paper manufactur norsk skog haindl mill take place moment upm kymmen acquir control haindl back back sale mill walsum germani parenco netherland hereinaft refer haindl remain mill refer haindl deal structur mean deal happen deal depend upm kymmen acquir haindl share norsk skog acquir share parenco asset walsum notifi oper constitut concentr mean articl merger regul iii commun dimens transact undertak concern combin aggreg worldwid turnov eur billion upm kymmen eur billion haindl eur billion commun wide turnov excess eur million upm kymmen eur billion haindl eur achiev third aggreg commun wide turnov member state notifi oper commun dimens constitut cooper case eea agreement pursuant articl agreement transact undertak concern combin aggreg worldwid turnov eur billion norsk skog eur billion haindl aggreg commun wide turnov parti exce eur million norsk skog haindl member state parti turnov excess eur million member state parti combin aggreg turnov exce eur million achiev third aggreg commun wide turnov member state notifi oper commun dimens constitut cooper case eea agreement pursuant articl agreement iv compat common market concentr concern econom sector pulp public paper affect market market newsprint magazin paper basi separ market wood free coat wfc magazin paper wfc market affect market haindl produc paper categori relev product market newsprint newsprint primarili public newspap manufactur newsprint requir mechan pulp recycl pulp weight grade newsprint depend paper finish calend white colour bright differ grade paper weight grammag bright kei variabl standard newsprint typic grammag rang bright rang iso improv newsprint grammag rang bright rang iso higher special newsprint includ low grammag high bright iso directori paper book paper decis octob commiss consid newsprint singl product market find inter alia high degre demand side suppli side substitut recognis newsprint grade price differ signific approach commiss decis ec case iv enso stora upm kymmen claim valid broadli confirm market investig commiss consid purpos case singl product market newsprint magazin paper magazin paper produc mechan chemic recycl pulp chemic filler pigment primarili public consum magazin catalogu advertis materi gravur offset print grade uncoat grade supercalend sc sc coat mechan reel grade cmr wood free coat reel wfc coat mechan reel consist predominantli lightweight coat grade lwc coat mechan grade includ medium weight heavi weight coat mwc hwc machin finish coat mfc magazin paper lowest qualiti sc grade highest qualiti wfc grade cost sc coat mechan grade lwc qualiti price newsprint grammag bright kei variabl grade indic sc grammag iso sc grade slightli higher grammag higher bright iso lwc grammag bright iso wfc bright iso parti grade belong magazin paper market high degre suppli demand side substitut parti point fact commiss previou case base assess singl market magazin paper case commiss assess basi separ relev product market wfc commiss investig reveal wfc part market magazin paper price sc grade lwc tend move parallel case wfc indic wfc part magazin paper market parti strongli disagre analysi mention price movement sc cmr wfc larg similar correl analysi price support commiss analysi wfc belong market sc cmr demand side substitut wfc grammag make bulki compar lwc consider resist mechan grade unlik quot yellow quot time lignin wfc cover public expens high end travel lifestyl fashion magazin price copi pai higher purchas price higher transport cost copi carri higher weight due higher grammag repli statement object parti mention commiss fail account overlap occur medium weight coat mwc wfc true substitut grade substitut take place margin pertin term volum suppli side perspect practic substitut wfc wood grade paper machin produc wfc dedic machin product wfc requir chemic pulp input sc lwc base wood mechan pulp chemic pulp larg extent produc independ supplier trade open market mechan pulp produc intern price chemic pulp refer market pulp vari consider time market price chemic pulp nsbk type vari usd tonn usd tonn explain part price wfc move parallel grade custom opinion supercalend sc lwc grade constitut relev product market suppli side point view substitut cmr sc grade machin produc sc lwc grade coat magazin paper requir replac super calend coater vice versa total uneconom lwc machin dedic machin produc coat mechan reel sc machin swing machin produc sc newsprint price benchmark sc lwc grade tend move parallel price differenti broad spectrum qualiti price sc lwc grade partli overlap term grammag bright suggest clear break exampl publish switch grade relev product market assess case wood paper sc cmr conclud commiss consid wood free magazin paper wfc wood magazin paper supercalend sc coat mechan reel cmr includ lwc mwc hwc machin finish coat mfc constitut relev product market relev geograph market newsprint parti present market trend point signific influenc import canada unit state america eea upm kymmen submit market newsprint eea wide take account emerg transatlant market enso stora case relev geograph market newsprint found wider eea total import export account eea consumpt approxim import north america canada account european import canada entitl duti free quota tonn year import direct unit kingdom import liabl duti progress reduc duti abolish upm kymmen claim import increas investig carri commiss case show import increas remain stabl low level idea market wider eea import newsprint eea remain low level stabl past ten year import significantli increas progress reduct tariff current rate independ north american newsprint produc name european custom supplier major suppli british isl compani ship signific volum europ abitibi consid world market leader term capac bowat top supplier worldwid kruger abitibi establish foothold european market acquir bridgewat newsprint mill great britain mill capac tonn sell british newsprint market bowat small servic offic europ kruger presenc europ compani account import eea quantiti ship smaller canadian supplier irv allianc forest product insignific allianc forest product process acquir bowat parti claim import north american produc expect increas canadian produc longer achiev premium deliveri unit state base strong dollar exchang rate euro favour export eea depend exchang rate canadian produc european custom sporad supplier clear long term strategi commit suitabl ongo publish confirm lead north american import bowat state increas sale europ provid exchang rate favour kruger state reduc shipment europ exchang rate transport cost addit industri associ cepiprint forecast declin import canada tonn tonn forecast cepiprint year declin element make import north america decreas year qualiti eea ident qualiti produc north america qualiti import canada perceiv inferior european qualiti custom state qualiti european newsprint constantli improv widen exist gap canada europ respect sourc import russia mill kondopoga wolga solikamsk deliv eea germani qualiti newsprint supplier low qualiti compar european produc free paper logist problem put steadi reliabl sourc suppli question import russia eea consumpt summaris newsprint market wider eea switzerland import account total eea consumpt ii reduc tariff exchang rate fluctuat lag busi cycl trade flow eea north america vari signific extent word year favour exchang rate import canada grown significantli magazin paper parti opinion market magazin eea wide signific tariff barrier intra eea trade import eea magazin paper grade subject duti duti sc grade lwc wfc subject duti duti reduc eea net export magazin paper export amount total eea deliveri import investig commiss shown increas import forese futur lead north american paper produc explain concret plan develop export eea area commiss investig shown magazin paper custom unanim eea relev geograph market magazin paper custom opinion north american russian east european player consid activ european market relev geograph market consid eea switzerland competit assess gener pulp paper industri product process earli eighti product wood paper publish print increas account total european manufactur pulp paper industri consist kei busi area pulp public paper newsprint magazin high qualiti paper paperboard tissu busi share part product process explain firm activ public paper busi involv area manufactur process public paper newsprint magazin paper start activ forestri includ initi plant rais tree fell log paper produc forest involv basic manufactur wood product panel board builder carpentri instanc case upm kymmen produc sawn timber plywood plane timber ad deriv activ follow product process vertic integr chain wood raw materi manufactur pulp raw materi print publish paper industri pulp wateri fibrou substanc made fresh fibr recycl fibr form paper sheet kind pulp depend desir characterist paper product strength appear intend type pulp public paper mechan pulp groundwood pulp thermo mechan pulp tmp made wood de ink pulp dip made recycl paper chemic pulp chemic pulp magazin paper increas strength paper combin tmp dip produc sc paper combin tmp produc lwc paper produc wfc paper tmp dip newsprint tmp dip sold open market appreci quantiti newsprint magazin paper produc integr pulp product facil raw materi wood recov paper arriv mill produc pulp make newsprint magazin paper contrast integr level chemic pulp vari chemic pulp make small proport pulp make magazin paper wfc bought extern chemic pulp market produc wfc supplier parti integr paper product capac chemic pulp mill bui chemic pulp market kei product factor includ chemic water energi compani develop integr energi facil order cover part nineti number product process pulp paper industri rationalis product nation european environment polici technolog advanc product process result dramat reduct water energi product process includ replac chlorin bleach element total chlorin free process bleach increas bright paper import evolut relat increas import recov paper raw materi mark chang wast polici recycl environment awar risen led develop market paper recycl fibr manufactur pulp paper fulli chang product process rang product order recycl resourc recycl fibr essenti raw materi paper industri reus time mix fresh fibr recycl attract mill oper dens popul area larg suppli paper short distanc transport materi manufactur reli secur suppli effici collect system import structur element public paper industri relat path depend relat paper grade appear paper mill recov fibr easili switch fresh fibr vice versa decis input requir machineri de ink plant grinder mechan pulp energi intens sourc energi import gener hous haindl schongau switch tmp dip reduc energi consumpt switch made build de ink plant similar strateg decis made concern finish paper paper machin produc grade higher newsprint supercalend coat machin finish paper paper machin supercalend technic produc sc newsprint machin coat unit produc cmr newsprint except combin paper machin produc calend paper produc coat paper reason switch product made calend coat unit unit expens cost paper machin lot time make fact invest high life machin year decis invest type technolog critic implic term cost structur term market posit invest process invest decis main strateg choic variabl public paper industri gener speak opportun expand constrain supplier histor invest choic technolog opportun futur strateg evolut invest process similar newsprint magazin market capac expans form expans capac exist plant minor modif call creep ii expans capac exist plant rebuild upgrad plant iii build plant capac creep paper machin result increas year averag introduct plant combin shutdown ineffici public paper industri capit intens invest defin larg machin typic capac tonn cover european demand costli eur million build plant eur million upgrad rebuild reason invest capac tend occur larg infrequ lump decis amount time invest made take account exist capac demand balanc invest decid long term growth trend market progress quot absorb quot capac importantli aspir investor term rate return invest time lag occur announc invest project commit announc effect realis period elaps commit announc effect realis vari gener year supplier structur public paper industri year european pulp paper industri characteris high degre horizont concentr vertic integr merger upm kymmen stora enso todai european public paper industri fairli concentr parti top supplier control market newsprint top supplier close market wood magazin paper term capac term sale total number firm involv public paper industri limit cepiprint associ european public paper produc offici includ compani actual number member independ group compani commiss investig identifi paper produc provid newsprint wood magazin paper small quantiti tend product site small player altogeth industri compris european produc market player firm subsidiari european group sappi europ subsidiari south african group sappi notic produc coat mechan paper european leader wood free coat paper canadian paper produc abitibi subsidiari great britain abitibi bridgewat paper repres amp lt european newsprint capac element classifi supplier size degre horizont integr final degre vertic integr great differ term size market player market small player account capac total european market capac newsprint magazin paper encompass global player medium size player degre horizont integr distinguish market player overlap public paper busi relat activ appear number compani stake paper board market high qualiti paper paperboard tissu final differ supplier degre vertic integr paper produc purchas raw materi energi forest chemic pulp factori firm collect recov paper energi plant element distinct supplier commiss identifi investig group small market player share common characterist group compris compani dresden papier leipa grupp lenk regeno papier robert cordier perlen papier steinbei tem papier reli paper machin account market larg proport base germani largest nation market tend focu local custom sell border firm privat own tend flexibl custom orient major product process base recov paper wood final tend horizont integr sens produc public paper produc newsprint tend produc paperboard produc magazin paper tend produc fine paper market player offer contrast pictur core busi produc focu exclus newsprint magazin paper public paper secondari busi pulp paper activ context increas specialis major produc paper board industri public paper repres core busi produc size recognis number larg global player stake european public paper industri stora enso norsk skog upm kymmen real myllykoski sca abitibi sappi global player strateg focus distinguish account similar market share abitibi sappi european subsidiari canadian south african intern group product site europ market share eea newsprint wood magazin paper limit sappi amp lt abitibi import canada includ sca employe countri primarili involv public paper sca hygien product sca packag repres total sale sca european market share newsprint amp lt wood magazin paper final real myllykoski structur link lead firm recognis entiti market particip present notifi parti respect form real share myllykoski paper subsidiari myllykoski group joint ownership myllykoski german manufactur albbruck joint ventur account approxim tonn wood magazin paper equival market joint sale distribut network real allianc subsidiari real real annual report declar quot metsä serla paper group myllykoski europ largest produc coat magazin paper quot myllykoski activ market newsprint europ usa market share real foremost largest produc fine paper europ limit involv magazin paper kt lwc capac mill finland kt capac wfc reason firm treat commerci entiti purpos decis common featur global firm degre vertic integr instanc stora enso norsk skog integr compani stora enso satisfi signific part raw materi intern ensur continu product compani own approxim million hectar forest land finland sweden million hectar unit state signific forest area canada portug power plant stora enso mill provid approxim compani power requir norsk skog set subsidiari norsk skog suppli charg suppli raw materi wood recov paper energi consum final oy metsä botnia ab real hold upm kymmen hold share strateg resourc compani main task assur disturb free suppli pulp competit term owner compani real upm kymmen remain public paper supplier repres group compani european focu capabl serv client eea export part product product locat exclus european commiss identifi compani european focu burgo haindl holmen matussièr forest palm compani constitut homogen group burgo holmen matussièr larg degre vertic integr own power plant procur electr need product stake suppli raw materi wood recycl reli exclus wood mill de ink pulp haindl palm contrari reli primarili exclus recycl paper burgo focus magazin paper holmen palm primarili produc newsprint holmen burgo medium size firm activ europ matussièr palm small firm focu respect home countri develop demonstr holmen commit market newsprint market share steadili increas past decad close gap norsk skog holmen commit invest project bring close norsk skog project concern machin hallsta produc super improv newsprint replac pm newsprint machin net increas tonn project concern standard newsprint machin product end begin increas holmen capac tonn addit net capac tonn holmen achiev share european capac basi element outlin top supplier newsprint market upm kymmen stora enso norsk skog haindl holmen compani princip sca real myllykoski palm market wood magazin paper top supplier upm kymmen stora enso haindl real myllykoski remain player compris princip sca burgo sappi norsk skog note real myllykoski norsk skog consid top supplier fring depend consid market buyer characterist custom newsprint wood magazin paper compris newspap magazin publish catalogu retail special paper buyer paper merchant commerci printer whilst custom paper distinct choos rang paper grade grade public paper distinguish grammag bright intend print process categori cover rang print qualiti achiev feel print product market characteris larg number buyer larg buyer larg publish axel springer repres fair amount total demand vast major demand atomis consist region newspap specialis magazin bargain process price polici commod product domin market mechan public paper base public exchang admittedli spot market compani bui suppli domin market mechan base agreement supplier custom suppli period year copi agreement provid parti deliveri contract quantiti paper deliv grade thick price rebat deliveri condit logist packag qualiti control requir environment specif payment condit contract compani specif relat individu order durat vari month year gener year rate deliveri vari year demand price gener negoti calendar year uncommon contract renegoti year signific declin demand occur long term stabl relationship custom secur suppli term quantiti term product rang involv largest supplier possibl long term contract exampl year contract custom short term contract year obtain price part suppli involv smaller supplier possibl extra eea produc negoti oper supplier public paper custom commiss inquiri show custom systemat adopt multi sourc strategi multi sourc strategi custom secur safeti regular suppli make rang paper grade qualiti requir importantli increas negoti power point view custom appear confront number supplier increas transpar market situat time negoti custom negoti strategi elabor hand determin intern term volum paper grade develop market intellig pulp price utilis rate capac order idea constraint produc cost structur main negoti instrument consist confront compet offer supplier custom declar divulg bargain partner competitor make good offer signal price level obtain custom vital suppli continu unlik paper produc publish shut product publish daili newspap weekli magazin period requir tonnag paper publish choic reduc pagin circul happen autumn detriment effect revenu advertis gener advers reaction reader weaken negoti posit publish reason custom complain propos takeov haindl balanc power tend fluctuat past depend market cycl demand high capac surplu tight custom pressur find paper product negoti accept higher price level lower bargain power demand low contrari paper produc pressur reach profit level capac utilis pulp paper industri capit intens show high fix cost paper produc high utilis rate requir busi profit demand low situat capac custom higher countervail power obtain lower price report custom optim strategi supplier resist downward pressur price time idl paper machin temporarili time supplier maintain price level lower deliveri part supplier strateg polici industri past decad main driver demand public paper advertis volum turn affect volum editori part eventu pagin advertis close relat perform economi demand public paper typic relat gener econom trend tradition paper industri cyclic past ten year peak occur slowdown demand busi cycl impli high volatil price cycl instanc price increas decreas take year identifi addit capac instal capac expans plan tend occur busi good mismatch instal capac demand appear figur market oscil period full capac utilis period capac instanc industri capac utilis ratio capac utilis rate level price reflect demand suppli balanc period low demand capac declin price level instal capac rel demand determin profit industri long run figur price remain stabl price depress introduct capac case previous earli nineti capac line increas demand figur capac utilis rate sourc cepiprint gt pic file quot en tif quot gt figur describ cyclic pattern newsprint market past year observ valid wood magazin paper market figur newsprint cyclic pattern eea level sourc cepiprint gt pic file quot en tif quot gt develop long run capac level market newsprint spring capac come stream machin myllykoski stora enso holmen rebuild creep continu match forecast demand stabilis suppli demand balanc eea level long term increas demand newsprint estim approxim year figur estim cepiprint march period recent develop gener econom climat lead substanti revis forecast demand public paper lead situat short term capac built need custom suggest supplier stabilis price reduc product margin product increas lower rate growth demand market relat downtim suppli tight rais price jukka härmälä ceo stora enso quot quot stora enso commit take market relat time tonn time quarter year intend continu need year quot similar fashion juha niemelä ceo upm kymmen quot shouldn aim run machin full time quot take time support assert custom point fact publish volum newsprint need case deni volum order price stabl newsprint price rose compar similar observ made wood magazin paper price risen end year except year refer demonstr occur suppli tight collect domin introduct collect domin joint exercis market power tacit coordin market behaviour group firm commiss investig propos concentr result creation collect domin posit market newsprint wood magazin paper subset larg firm call top supplier investig commiss carri type analysi past decis collect domin case decis eec iv nestlé perrier decis ec iv gencor lonrho decis ec iv airtour choic commiss analys impact merger competit characterist market make market conduc tacit coordin sustain coordin top supplier abil incent deviat coordin outcom abil incent deviat retali ii buyer fring player entrant abil incent challeng top supplier anti competit behaviour addit commiss examin natur past competit examin collect domin requir examin seri element order establish market conduc collect domin number characterist market characterist present form list examin make assess mechanist appli quot check list quot depend circumst fact structur featur collect domin establish decis exclud likelihood coordin outcom market characterist public paper industri characteris long run competit capac short run competit price capac constraint market level capac averag demand determin long run averag price level short run demand determin short run price capac level characterist similar market newsprint market wood magazin paper summaris product homogen newsprint main grade wood magazin paper consid homogen product variat paper grade exist homogen natur product confirm tendenc standardis price polici qualiti newsprint wood magazin paper exist defin standard qualiti supplier adher instanc refer qualiti newsprint qualiti benchmark calcul price qualiti stabil market share graph degre fluctuat market share top supplier market newsprint wood magazin paper variat term market share limit wood magazin pronounc newsprint holmen instanc notabl increas market share newsprint market past year explain upm kymmen market share public paper industri strongli determin capac share quot strong short term market share variat exclud charact industri quot basi commiss recognis instabl market share newsprint produc consid variat necessarili preclud stabil respect market share largest supplier figur market share newsprint market sourc repli parti competitor figur market share wood magazin paper sourc repli parti competitor symmetri market share parti point asymmetri relat top supplier market share holmen market share term newsprint sale stora enso past commiss found collect domin oligopolist total symmetr market share main reason exist asymmetri market share case obstacl tacitli coordin behaviour outcom competit assess commiss take posit rel asymmetri market share case provid incent top supplier discuss increas decreas symmetri brought propos concentr section quot impact transact quot transpar capac deliveri expans commiss identifi main channel inform oper market newsprint wood magazin paper profession associ announc paper produc cepiprint associ european public paper produc repres industri sector newsprint magazin paper confeder european paper industri cepi cepiprint base zürich incorpor swiss law member manufactur newsprint magazin paper grade europ cepiprint financ member compani cepiprint membership includ european produc newsprint magazin paper independ compani group compani own paper mill paper machin european countri cepiprint member repres suppli eea switzerland newsprint magazin paper cepiprint produc report deliveri paper order capac stock situat product shutdown paper grade separ data aggreg mill compani gener organis countri countri basi utilis rate downtim eea member switzerland public inform invest announc realis provid cepiprint ppi paper produc make announc invest plan time level instanc intent build paper machin locat declar consid commit decid board decis stage inform time public statement individu firm amount time mean tonnag market addit inform time custom supplier inform account plan take element account recognis transpar market commiss find lack transpar relat invest decis sustain tacit coordin invest alleg statement object transpar averag price transpar averag transact price individu transact price enso stora decis commiss note enso stora secret price discount market lack transpar hand custom point actual price level market appear transpar facilit devic respect public euwid ppi publish price monthli basi countri custom commiss public accur indic gener level transact price market noteworthi final net price market newsprint wood magazin paper determin individu contract includ inter alia retroact price rebat commiss consid individu transact price transpar degre transpar exist averag level price charg supplier inelast cyclic demand newsprint wood magazin paper market supplier face short run inelast demand acknowledg parti short run demand driven econom activ highli pro cyclic short run demand determin short run price level suppli commiss estim demand elast regard public paper market estim elast rang newsprint wood magazin paper econom expert norsk skog base analysi market lower elast mean small proportion decreas suppli product induc higher price increas cost structur gener speak product cost vari relat size ag paper machin relat mix variabl fix cost commiss analys cost structur top supplier base cost detail machin mill order compar margin cost commiss examin respect part fix variabl cost measur cost examin measur averag variabl cost raw materi energi analysi show dispers averag variabl cost machin reflect mix gener machin averag effect ag newsprint paper machin affect averag variabl cost ag magazin paper machin ag machin relev paramet market note industri oper oper rate machin link individu cost suggest averag variabl cost indic margin cost gt tabl gt figur averag effect ag machin sourc repli parti competitor purpos cost analysi averag variabl cost firm analys figur conclus emerg cost analysi newsprint market figur lowest variabl cost sampl possibl lowest margin cost newsprint market transact increas symmetri degre asymmetri remain figur averag variabl cost newsprint firm sourc repli parti competitor conclus wood magazin paper market differ newsprint market top supplier exhibit similar cost structur addit commiss examin posit competitor identifi commiss top supplier fring player wood magazin paper market notic point competitor appear todai competitor market power top supplier wood magazin paper market confirm declin market share posit year competitor plan replac exist machin year make effici term cost figur averag variabl cost sc firm sourc repli parti competitor figur averag variabl cost lwc firm sourc repli parti competitor parti share commiss preliminari conclus cost level symmetr produc argu data figur provid demonstr alleg top supplier dissimilar cost structur addit note situat cost effici player interest coordin cost effici afford compet time make profit final cost compon energi pulp raw materi differ top supplier instanc differ cost structur compar percentag alloc energi raw materi total cost lower energi repres total cost repres total cost raw materi repres repres commiss consid wood magazin paper market top supplier exhibit wide differ cost structur except competitor propos concentr situat chang implement newsprint market transact upm kymmen haindl norsk skog haindl increas symmetri top supplier cost structur transact make cost structur remain top supplier newsprint equal recognis supplier react differ input price commiss recognis degre cost symmetri newsprint market necessarili conduc collect domin multi market contact link top supplier oper pulp paper product market top supplier stora enso upm kymmen haindl norsk skog real myllykoski oper newsprint wood magazin paper market stora enso upm kymmen norsk skog haindl real myllykoski joint control number firm relat input transport oy metsä botnia ab chemic pulp mill upm kymmen real myllykoski ii sunila oy chemic pulp mill stora enso real myllykoski iii paperinkeräi oy procur process suppli recov paper upm kymmen real myllykoski stora enso iv austria papier recycl ge procur wast paper haindl sca norsk skog pressretur ab sweden wast paper collect compani stora enso holmen sca vi keräyskuitu finland dip plant stora enso real myllykoski joint logist servic distribut facil mention oy transfennica ab ship compani upm kymmen real myllykoski ii corenso unit oy coreboard core tube upm kymmen stora enso iii distribut agreement upm kymmen real myllykoski hull harbour unit kingdom tilburi unit kingdom antwerp harbour belgium iv holmen real myllykoski sca long term arrang sea carriag steveco finland stevedor compani stora enso upm kymmen real myllykoski top supplier interact fring metsä tissu oyj tissu paper compani real myllykoski sca ii sodipel sa portug distribut facil norsk skog share particip sca iii sappin sa belgium purchas roundwood wood chip haindl parenco mill sappi iv laakirchen austria local cooper procur raw materi specif mill sca steyrermühl own haindl context collect domin multi market contact influenc strateg behaviour tend substanti increas sustain coordin market buyer power industri characteris larg custom larg number small custom categori multi sourc top supplier serv larg number custom weight percentag total sale deliveri respect top newsprint custom repres norsk skog upm kymmen haindl total sale deliveri top custom stora enso holmen respect total sale percentag magnitud wood magazin paper market largest custom newsprint market new corp unit kingdom amp lt total newsprint deliveri amp lt mirror new triniti mirror unit kingdom amp lt sppp franc amp lt sourc upm kymmen stora enso norsk skog holmen haindl mean top supplier phenomenon appli wood magazin paper market largest custom axel springer verlag amp lt burda amp lt gruner jahr amp lt ipc magazin amp lt multi sourc upm kymmen real myllykoski stora enso haindl smallest custom multi sourc supplier smaller quantiti purchas tradition multi sourc top supplier fring imbal import side reason buyer power neutralis parallel oligopolist behaviour switch supplier take time involv cost reason custom rank continu busi relationship higher price custom accept higher price order continu exist suppli avoid switch cost chang supplier reason relat cost start long term busi relationship standard newsprint commod short run fulli interchang supplier fact output supplier match pressroom case press obtain optimum runnabl printabl paramet optimis includ paper machin direct tensil core direct tensil elong callip stiff surfac smooth oil water absorpt paper custom optimis paper qualiti machin pressroom qualiti run sensit supplier switch supplier time consum increas risk parti describ cumbersom procedur chang supplier follow step laboratori test confirm physic properti paper ii preliminari trial run assess paper runnabl press behaviour iii extend trial run confirm runnabl iv gradual volum build accommod logist system wareh order handl process gener month common introduct supplier reject establish supplier phase suitabl time period sudden switch fact custom concern price illustr fact order win busi supplier offer signific discount norsk skog submiss date august custom won offer introduct rebat suggest custom reluct switch supplier factor limit buyer power larg custom requir high volum face difficulti switch signific volum player larg buyer axel springer newspap switch equal kt normal busi time paper machin run extrem difficult imposs technolog develop paper make process industri innov take place paper product process product research develop spend target improv product process improv process technolog process control kind research develop larg extent undertaken cooper manufactur paper machin benefit client paper supplier reason date technolog easili develop help bring cost innov product made improv exist qualiti regard bright surfac improv brought process develop aim princip enabl product higher price end reposit paper higher market barrier entri expans pulp paper industri characterist sunk cost industri mention parti entrant market newsprint wood magazin year entri year reason entri costli involv high risk procedur chang supplier long fix cost larg sunk cost industri repres averag total cost newsprint wood magazin paper industri entri stepwis requir instal machin capac tonn equal demand newcom fine tune close obsolet machin cost incur sunk histor evid profit made machin run capac parti claim barrier expans exist player consider percentag capac small medium size firm period project palm norsk skog myllykoski enso stora holmen project smaller firm myllykoski mill germani project support firm commit axel springer purchas signific part product number year close creat vertic integr custom afford bui tonn supplier depend supplier similar attempt burda waz grupp vertic integr fail kind cooper replic project small supplier palm account capac differ exist regard expans wood magazin capac period larger share capac sc lwc grade built smaller player compar newsprint assess impact propos oper structur newsprint market market share major supplier newsprint eea tabl basi figur year gt tabl gt tabl market share newsprint market sourc base upm kymmen figur estim merger upm kymmen haindl market share term capac term sale stora enso close transact ahead upm kymmen market share make number market singl firm domin consequ propos transact exclud commiss examin oper lead creation collect domin posit compani upm kymmen haindl stora enso norsk skog holmen result firm concentr ratio term sale term capac firm concentr ratio fring includ sca myllykoski amp lt palm amp lt term sale transact close market share top player upm kymmen haindl stora enso norsk skog haindl holmen increas concentr propos transact reduc number lead firm industri eea level firm concentr ratio increas term sale term capac assum independ contribut herfindahl hirschman index hhi hhi increas oper increas point oper ähhi estim level hhi conserv estim includ market share smallest hhi threshold regard highli concentr market elimin competitor haindl pioneer high level recycl paper newsprint product haindl perceiv number custom innov custom orient produc cost structur top supplier newsprint market haindl low margin cost increas haindl market power haindl remov signific independ competitor newsprint market impact oper market structur market wood magazin paper concentr market share major supplier wood magazin paper eea basi figur year gt tabl gt sourc notifi parti increas concentr reduct number player result oper top supplier market term capac upm kymmen stora enso real myllykoski term sale upm kymmen stora enso real myllykoski concentr take place market share shift upm kymmen norsk skog top supplier account market term capac term sale assum independ contribut herfindahl hirschman index hhi hhi increas oper increas point oper decreas hhi reduc increas concentr transact increas concentr market diminish symmetri top player transact symmetri market player decreas upm prior oper market share similar enso stora increas market share emerg market leader transact take place norsk skog stronger market share slightli higher haindl prior oper note smallest top supplier real myllykoski consist firm link product sale agreement total capac kt attribut real myllykoski kt belong product joint ventur compani consid compani act regard capac invest decis form coordin elimin competitor newsprint market haindl wood magazin paper market perceiv number custom innov custom orient produc wood magazin paper market haindl activ year account total increas capac haindl remov signific independ competitor wood magazin paper market light element consid propos oper lead market structur make examin lead creation collect domin posit newsprint wood magazin paper market characterist market conduc collect domin merger result transpar uncertain market reflect reduct top supplier newsprint market top supplier wood magazin paper market examin market characterist commiss found element conduc collect domin statement object commiss consid market characterist conduc collect domin commiss remain opinion product suffici homogen demand highli inelast buyer power limit barrier entri high carefulli parti repli statement object commiss recognis element conduc creation collect domin posit limit stabil market share lack transpar capac expans project prior commit announc lack symmetri cost structur regard compon point direct sake complet examin coordin mechan analys statement object sustain reach definit conclus possibl coordin possibl parallel behaviour result coordin outcom depend transpar invest decis avail devic firm coordin commiss statement object believ identifi coordin mechan short run long run top supplier restrict unilater level capac order obtain maintain artifici high price mechan regard applic relev market newsprint wood magazin paper paragraph outlin mechan explain ultim consid satisfactori guarante coordin oper market coordin mechan identifi statement object express statement object coordin occur mechan coordin invest capac order limit capac market place rais level averag price long run coordin output time support short run price slowdown demand coordin short run period high level demand coordin invest capac consid oper process announc counter announc market player seri potenti invest project prospect site build paper machin invest decis make involv number paramet ultim relat return invest commiss argu statement object signal game top player announc invest project tool facilit coordin outcom member oligopoli refrain invest delai invest basi announc made oligopolist paragraph invest damag common object discern produc independ reach lower level capac market higher return invest roi coordin output time consid statement object addit mechan sustain tight capac level period econom cycl demand low period market capac notabl superior demand consequ larg price decreas coordin time temporari closur paper machin temporarili reduc suppli market announc arrai inform time market oligopolist newsprint wood magazin paper determin stop machin produc paper run risk lower market price statement object commiss consid coordin outcom sustain avail retali mechan coordin invest capac retali mechan lie threat oligopolist engag invest race result capac price collaps ultim low profit industri threat suffici deterr firm refrain deviat commiss consid coordin support retali mechan explain paragraph coordin time retali mechan lie oligopolist firm target deviat custom oligopolist offer lower price individu basi custom deviat order destroi profit margin feasibl top player suffici inform custom deviat spare capac increas deliveri custom main reason situat occur period low demand oligopolist suffici spare capac ii swing machin increas product desir grade iii suffici repatri amount devot export back europ repli statement object conclus commiss repli statement object parti explor issu feasibl sustain coordin invest capac output time provid extens argument possibl mechan outlin result tacit coordin essenti argu coordin feasibl sustain invest capac time carefulli review argument commiss conclud coordin invest achiev find coordin time possibl market newsprint wood paper coordin invest capac parti express view mechan feasibl main reason parti reach coordin outcom imposs tacit manner parti mention difficulti defin invest exist rebuild creep form invest rotat schedul agre capac divis parti argu announc invest irrevers room signal game final argu suffici transpar market moment commit invest tacit agreement reach parti develop argument coordin invest capac sustain main reason incent cheat lack credibl punish commiss examin element brought forward parti conclud highli improb oligopolist announc coordin tacitli invest capac lack transpar coordin achiev sustain achiev coordin make meaning announc announc impact behaviour competitor commiss consid oligopolist requir suffici transpar order judg project requir rate return announc firm impact invest decis make case announc made europ announc carri oppos situat unit state america sustain coordin prevent member oligopoli invest oligopolist pre empt deviat tacitli agre object word detect potenti deviat restrain deviat credibl punish threat investig show oligopolist awar invest project firm deviat tacit coordin object invest made irrevers suffici transpar mean announc made oligopolist succe put unwant invest invest commit punish threat loos credibl costli pursu coordin time parti argu mechan impact price claim defin detect time lack transpar sustain time form firm recognis coordin difficult defin optim oper rate time detect deviat high incent oligopolist cheat opportun final argu punish deviat agreement time extrem costli credibl commiss share view parti parallel strategi involv decis time newsprint wood magazin paper market commiss agre time impact price fact upm kymmen admit quot time slow declin price market fall demand quot difficult argu time hidden market player transpar time channel supplier custom forthcom time machin suppli custom confirm submiss major competitor ow custom multi sourc polici oligopolist deliv client statist market stock level time level commiss consid retali tool credibl competitor deviat remain top supplier aggress action chang price remain custom induc custom switch part demand deviat substitut suppli top supplier drive price paid import custom deviat explain statement object period low demand capac need support retali capac target import custom deviat affect market credibl main custom top supplier form upm kymmen main custom upm kymmen supplier upm kymmen list number swing machin capac margin export sale base long term contract potenti sourc capac credibl punish devic final parti fail explain ceo major paper produc public fora prepar time need maintain balanc suppli demand commiss conclud mechan identifi coordin invest sustain creation tacit coordin market newsprint wood magazin paper maintain tacit coordin time exclud coordin mechan support creation collect domin posit top supplier newsprint wood magazin paper explain paragraph coordin undermin action fring player fring player abil challeng top supplier anti competit behaviour commiss argu statement object fring player incent challeng top supplier benefit higher level averag price argu norsk skog reluct break disciplin wood magazin paper market neg repercuss newsprint market convers real myllykoski reluct break coordin newsprint market care examin competitor appear top supplier posit simpli disciplin seri firm qualifi fring player actual market posit posit norsk skog real myllykoski examin light element brought forward hear appear norsk skog small paper produc increas market share lead worldwid player compani achiev year medium player norwai global leader newsprint contradict descript custom small paper produc mean compet newsprint wood magazin paper market past histori norsk skog aggress growth question proposit compani radic chang strategi merger stop invest acquir busi appear real myllykoski oper singl entiti regard invest decis make compani provid document indic separ invest polici consid separ respect capac wood magazin paper closer burgo sca top player upm kymmen commiss consid treat norsk skog genuin competitor merg entiti wood magazin paper market part identifi group oligopolist seemingli treat real myllykoski genuin competitor merg entiti newsprint market part identifi group oligopolist element combin limit symmetri market share identifi market characterist limit incent firm coordin behaviour oligopolist case commiss believ remain fring player plai activ role respect market make tacit coordin unsustain import fring player sca myllykoski palm abitibi bridgewat market newsprint norsk skog burgo sca market wood magazin paper player break major player tacitli coordin behaviour increas product oligopolist individu perceiv common interest shut machin temporarili definit time briefli illustr firm mean advantag tacit coordin top player improv competit posit increas market share sca medium size player market share market focus higher margin market tissu commiss argu statement object commit newsprint wood magazin sca link top supplier limit incent challeng top supplier sca argu hear remain commit newsprint market invest sca rumour build newsprint machin aylesford unit kingdom mill commiss recognis sca challeng top supplier anti competit behaviour newsprint market palm activ region player suppli southern germani invest newsprint machin stream expand capac kt increas substanti market posit amp lt newsprint market repli statement object parti confirm newsprint machin unexpect industri commiss consid palm challeng top supplier region level burgo exhibit high cost effect challeng collect domin posit recent past confirm declin market share year year burgo invest machin bring substanti capac kt wood magazin market invest machin lead lower margin cost rais abil challeng top supplier commiss recognis medium player neglig term market posit invest polici machin import recent past substanti year fring player market make parallel strategi coordin time unsustain instanc top supplier market newsprint coordin time curtail product time low demand fring counter move increas product histor data utilis rate fring player significantli industri averag past demand low capac utilis rate industri cepiprint appli rate current instal capac tonn spare capac hand fring player period low demand explain earlier parti commiss econom expert estim elast level market elast demand tonnag suffici offset price increas figur elast curtail product take time viabl strategi view possibl fring increas product immedi higher capac utilis rate year fring increas product capac creep rebuild year period fring player introduc paper machin market commiss conclud small medium player consid margin player bring capac newsprint wood magazin market advantag artifici creat short term shortag increas product fring challeng top supplier conclus light argument present parti respons statement object relat degre concentr market share attain size competit medium size player problem identifi relat coordin capac commiss consid notifi concentr creat collect domin posit market newsprint wood magazin paper eea conclus notifi oper creat strengthen domin posit market result effect competit significantli imped common market substanti part oper compat common market function eea agreement adopt decis articl concentr notifi parti june relat takeov haindl sche papierfabriken kgaa upm kymmen subsequ sale haindl mill parenco walsum norsk skogindustri asa compat common market function eea agreement articl decis address notifi parti brussel novemb commiss mario monti member commiss oj correct version publish oj oj oj oj turnov calcul accord articl merger regul commiss notic calcul turnov oj part text edit ensur confidenti inform disclos part enclos squar bracket mark asterisk footnot case iv repola kymmen oj supplier handl grade costli adjust print machin decis novemb oj case iv repola kymmen point iv enso stora point price correl analysi design measur sensit price product price alleg substitut higher degre correl product closer coeffici exist combin product market includ coeffici correl lwc sc rang sc lwc wfc correl coeffici conclus support wfc market sc cmr recognis commiss decis iv repola kymmen point rapport annuel matussièr amp forest sa demand suppli report june machin oper europ instal perlen papier capac tonn http www sca se pulp amp paper intern june product joint ventur sale agreement notifi commiss march case iv metsä serla myllykoski commiss comfort letter date real annual report http www storaenso jim kenni quot search stabil quot ppi june increas capac extra exist machineri year run slightli faster make continu small improv product process mill capac creep competitor capac creep chang market share calcul futur market share cepiprint demand suppli report newsprint magazin paper grade march jame stora enso aim leader pack ppi june jame upm kymmen stai cool heat ppi june ppi week volum june term collect joint oligopolist domin synonym decis oj oj oj sourc upm kymmen repli iv danish crown vestjysk slagteri iv aitour choic decis novemb oj point euwid europäisch wirtschaftsdienst price quot obtain custom supplier commiss estim simpl model suppli demand analysi carri bruno jullien univers toulous model deriv combin work christensen cave pesendorf pulp paper industri demand estim stage squar account endogen serial correl price base quarterli data start quarter end quarter cost analysi econom support analysi collect domin carri professor jullien sourc data base construct repli commiss questionnair phase phase ii investig oecd data ppi data base labour consid fix cost result analysi chang market sale consid variabl cost raw materi energi form upm kymmen haindl repli articl decis august exist remain paper machin manufactur worldwid valmet voith sulzer capac figur capac instal western europ product export capac figur capac instal western europ product export top supplier swing machin stora enso haindl myllykoski merger upm kymmen norsk skog swing machin swing machin paper machin produc newsprint magazin paper case sc time need implement swing limit coupl hour week cost great advantag flexibl shift capac paper grade mention parti impact swing machin exist capac signific swing capac provid possibl short run retali measur top supplier eea newsprint product export wood magazin paper product export norsk skog lexecon state quot yearli contract concern possibl time affect price quot upm kymmen respons