Graz, Austria, Oct 19, 2011 - International technology Group
ANDRITZ takes the following position in reply to a press release issued by the supplier Ovalstrapping Inc., in which Ovalstrapping purports to inform about a litigation initiated against
- ANDRITZ believes that the allegations are unjustified, and ANDRITZ in fact had already initiated arbitration to seek clarification of these issues, as ANDRITZ is required to do under its contract with Ovalstrapping. Following this action by ANDRITZ, the supplier initiated a lawsuit against ANDRITZ at a local US court, apparently in order to avoid the arbitration sought by ANDRITZ and required under its contract. ANDRITZ believes that the matter will be clarified in arbitration. In particular, this small supplier no longer had exclusive rights for at least three years, and ANDRITZ has replaced the products of the supplier with different technology.
- ANDRITZ is investigating the supplierÂ´s press release, which from the point of view of ANDRITZ is misleading, to determine whether the press release has caused damage and whether it needs to take further actions against the supplier.
The ANDRITZ GROUP
The ANDRITZ GROUP is a globally leading supplier of plants and services for the hydropower, pulp and paper, metals, and other specialized industries (solid/liquid separation, feed, and biofuel). The Group is headquartered in Graz, Austria, and has a staff of approximately 16,100 employees worldwide. ANDRITZ operates over 180 production sites, service, and sales companies all around the world.
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