ANDRITZ: Arbitration case in Montes del Plata settled
ANDRITZ Pulp Technologies Punta Pereira S.A., a subsidiary of international technology Group ANDRITZ and Celulosa y Energía Punta Pereira S.A. (“CEPP”), a Joint Venture by Stora Enso and Arauco, have amicably settled the arbitration proceedings between them in connection with several contracts for delivery of equipment and systems for CEPP’s Montes del Plata pulp mill. The settlement will not have a material effect on the ANDRITZ Group’s earnings, thus ANDRITZ’s earnings expectations for the full year 2015 remain unchanged.
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The ANDRITZ GROUP
ANDRITZ is a globally leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and for solid/liquid separation in the municipal and industrial sectors. The publicly listed technology Group is headquartered in Graz, Austria, and has a staff of almost 25,000 employees. ANDRITZ operates over 250 sites worldwide.