Valmet Celulose, Papel é Energia Ltda has been notified of arbitration proceedings initiated against it by Suzano Papel e Celulose S.A.

Monday, September 19, 2016 12:15 pm

Valmet Celulose, Papel é Energia Ltda has been notified of arbitration proceedings initiated against it by Suzano Papel e Celulose S.A. | Brazil,Suzano,Valmet

Suzano Papel e Celulose S.A. has filed a request for arbitration against Valmet Celulose, Papel é Energia Ltda, Valmet AB and Valmet Technologies Oy, subsidiaries of Valmet Oyj, claiming approximately Euro 80 million.

The arbitration relates to separate Equipment Sales Agreements for the Suzano Imperatriz pulp mill project in Brazil. Valmet disputes the claims brought by Suzano and will also actively pursue claims of its own against Suzano for breach by Suzano of its obligations under the Agreements.