Monday, 02 June 2014 08:16

Andritz initiates arbitration proceedings against Montes del Plata

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Celulosa y Energía Punta Pereira S.A. (“CEPP”), a joint-venture company in the Montes del Plata group formed by Stora Enso and Arauco, has been notified of arbitration proceedings initiated against it by Andritz Pulp Technologies Punta Pereira S.A., a subsidiary of Andritz AG, claiming EUR 200 million. The arbitration relates to contracts for the delivery, construction, installation, commissioning and completion by Andritz of major components of the Montes del Plata pulp mill project located at Punta Pereira in Uruguay. CEPP disputes the claims brought by Andritz and will also actively pursue claims of its own against Andritz for breach by Andritz of its obligations under the contracts.

No provisions have been made concerning the arbitration proceedings.

Additional Info

For further information, please contact:

Juan Carlos Bueno, EVP, Stora Enso Biomaterials, tel. +55 11 3065 5223

Ulla Paajanen-Sainio, SVP, Stora Enso Investor Relations, tel. +358 2046 21242

Kirsi Seppäläinen, Head of Communications and Sustainability, Stora Enso Biomaterials, tel. +358 2046 21444

Read 8268 times Last modified on Wednesday, 21 October 2015 11:12