Andritz initiates arbitration proceedings against Montes del Plata
June 02 2014 - 2:06AM
STORA ENSO OYJ STOCK EXCHANGE RELEASE 2 June 2014 at 9.00 EET
Celulosa y Energia 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. 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 Seppalainen, Head of
Communications and Sustainability, Stora Enso Biomaterials, tel.
+358 2046 21444 www.storaenso.com
www.storaenso.com/investors Stora Enso is the global rethinker of
the paper, biomaterials, wood products and packaging industry. We
always rethink the old and expand to the new to offer our customers
innovative solutions based on renewable materials. Stora Enso
employs some 29 000 people worldwide, and our sales in 2013
amounted to EUR 10.6 billion. Stora Enso shares are listed on
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