HS Timber Productions’ statement on the results of the Competition Council investigation

In respect to the investigation of the Romanian Competition Council on the market for wood procurement concerning the 2011-2016 period, HS Timber Productions states the following:

• HS Timber Productions S.R.L. concluded a settlement with the Romanian Competition Council
• After a thorough evaluation of the company’s internal acquisition procedures in the period between 2011 and 2016, together with internationally-recognized experts, the company identified certain shortcomings and immediately took necessary corrective actions. Comprehensive trainings at all management levels with antitrust experts have been conducted since then on a regular basis.
• The company’s own motto of 'Getting better every day', paired with constructive criticism from stakeholders, allows it to adhere to the highest compliance and antitrust standards which are integrated in the company’s Code of Conduct and binding for all employees.
• With this settlement we assume this chapter of being finally closed.

This settlement concerns a period from 2011 to 2016. Since then, the company has continuously improved its Due Diligence System and has defined clear rules and policies.

Furthermore and as a matter of principle, HS Timber Productions implemented a set of measures to foster a secure chain of log supply in Romania. The Code of Conduct, which also applies to all suppliers, helps to ensure a sustainable business model in difficult regulatory environments.

One of HS Timber Productions’ main principles is to always act within the framework of every applicable law and regulation in force. HS Timber Productions strongly believes that compliance is a key element for a country's industrial and competitive development.

For further details:
Thomas HUEMER
Gaisberg Consulting GmbH
M: +43 664 88 44 64 27
thomas.huemer[at]gaisberg.eu