Saarioinen CEO Ilkka Mäkelä on Wednesday said company management recently discovered that cow intestines may have been used in animal feed for years. The practice has, however, now stopped.
The problem was first noted by an inspector from the Finnish Food Safety Authority (Evira) in January.
The food industry group has launched an internal probe into how potentially dangerous cow parts came to be mixed into feed. Evira is meanwhile looking into why it did not catch the company's compliance failure at an earlier date.
One case of mad cow disease was detected in Finland in 2001. After the incident, Finland began widespread testing for the disease.
The news was first reported by commercial broadcaster MTV3.