OUTOTEC OYJ PRESS RELEASE APRIL 2, 2014 at 12:30 PM
Outotec started legal action against Yanggu Xiangguang Copper Co., Ltd over contractual obligations in the Outotec Flash Smelting and Flash Converting license
Outotec has started arbitration process at the International Court of Arbitration against Chinese copper smelting, refining and processing company Yanggu Xiangguang Copper Co., Ltd in a dispute regarding license agreements in the Flash Smelting and Flash Converting technologies. Outotec has started this arbitration as Yanggu Xiangguang Copper has taken a number of actions in breach of the licenses granted.
In 2005, Outotec agreed on the delivery of engineering services, equipment and licenses to design, construct and operate a copper smelter using the Outotec Flash Smelting and Kennecott-Outotec Flash Converting processes. The smelter was commissioned in 2007.
"As a technology company it is necessary for us to defend our intellectual property and proprietary technologies and agreements related to," says Dr. Kari Knuutila, Outotec's Chief Technology Officer.
The arbitration is not expected to have an impact on Outotec's financial guidance for 2014.
For further information please contact:
Nina Kiviranta, General Counsel
Tel. +358 20 529 2017
Kari Knuutila, Chief Technology Officer
Tel. +358 20 529 2009
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198