Outotec and Sarda Energy and Minerals have settled dispute over obligations in a filter delivery
(Thomson Reuters ONE) -
OUTOTEC OYJ PRESS RELEASE APRIL 18, 2016 at 9.30 AM
Outotec and Sarda Energy and Minerals have settled dispute over obligations in a
filter delivery
Outotec and Indian based steel producer Sarda Energy and Minerals Ltd. (SEML)
have settled their dispute over obligations in a filter delivery. Larox Oyj
(acquired by Outotec in 2010) agreed with SEML on the delivery of a pressure
filter with related spare parts for SEML's iron ore pellet plant in 2007. SEML
claims that Larox has not fulfilled its contractual obligations and submitted
application for arbitration at the International Court of Arbitration against
Outotec in 2013 (press release on September 27, 2013) claiming compensation from
Outotec for loss of profit. The arbitration has been cancelled and all financial
impacts have been taken into account in Outotec's 2016 first quarter financial
result. The settlement of the dispute will not impact Outotec's financial
guidance for 2016.
For further information please contact:
OUTOTEC
Nina Kiviranta, General Counsel
Tel. +358 20 529 2017
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
Emails: firstname.lastname(at)outotec.com
DISTRIBUTION:
Main media
www.outotec.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Outotec Oyj via GlobeNewswire
[HUG#2004216]
Unternehmensinformation / Kurzprofil:
Datum: 18.04.2016 - 08:30 Uhr
Sprache: Deutsch
News-ID 464490
Anzahl Zeichen: 1969
contact information:
Town:
Espoo
Kategorie:
Business News
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