OUTOTEC OYJ PRESS RELEASE DECEMBER 27, 2013 at 2:00 PM
Outotec and MMX Sudeste Mineração S.A. enter into legal dispute over contractual obligations in a filter delivery
Outotec (Filters) Oy and the Brazilian mining company MMX Sudeste Mineração S.A. (MMX) have started separate arbitration processes against each other at the International Court of Arbitration in a dispute regarding a filter delivery. Outotec requested for arbitration process against MMX for declaration for MMX's illegal termination of agreement as well as receiving compensation due to the termination. MMX requested for arbitration process against Outotec for declaration for MMX's right to terminate agreement and receiving back the paid money. The International Court of Arbitration has consolidated these arbitration processes and appointed the arbitrators for the arbitration proceedings.
Outotec agreed with MMX on the supply of 17 Outotec Larox® CC 144 capillary action disc filters for filtering pelletizing feed slurries in iron ore processing in 2012. The parties did not disclose the contract value, but deliveries of this scope are typically worth of some tens of millions of Euros.
The arbitration is not expected to have an impact on Outotec's financial guidance for 2013.
For further information please contact:
Nina Kiviranta, General Counsel
Tel. +358 20 529 2017
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198