Andritz puts in claim of 200 mln euros against Stora, Arauco JV

lunes 2 de junio de 2014 02:21 GYT
 

HELSINKI, June 2 (Reuters) - Austrian machine builder Andritz has initiated arbitration proceedings against a joint venture in Uruguay owned by Stora Enso and Arauco, claiming 200 million euros ($273 million), Stora Enso said on Monday.

The arbitration relates to building the Montes del Plata pulp mill in Punta Pereira. The joint venture, called Celulosa y Energia Punta Pereira (CEPP), disputes the claims, Stora Enso said in a statement. It added that CEPP will pursue its own claims against Andritz for breach of contract.

Stora Enso said it had made no provisions concerning the arbitration proceedings. ($1 = 0.7328 Euros) (Reporting by Sakari Suoninen; editing by Jane Baird)