EANS-Adhoc: Semperit AG Holding Semperit decides to request international
arbitrators to resolve conflicts of opinion with its joint venture partner in
Thailand
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Joint Ventures/Cooperation/Collaboration
02.09.2014
Following careful deliberation, the Management Board of Semperit AG Holding
(Semperit) has today decided to commence international arbitration proceedings
against its Thai joint venture partner, the Sri Trang Agro-Industry Public Co
Ltd. Group, as well as against the joint venture company Siam Sempermed
Corporation Ltd.
Today, as a consequence of unsuccessful efforts to achieve a constructive and
contractually compliant behaviour of the joint venture partner, which satisfies
Semperit's requirements in particular regarding transparency, compliance and
corporate governance, the Management Board of Semperit decided to initiate these
legal proceedings after in-depth consideration of the latest developments.
Furthermore, Semperit is suing regarding determination of and compensation for
damages caused by the detrimental behaviour of the joint venture partner.
The arbitration proceedings will each be conducted under the Rules of the
International Chamber of Commerce (ICC) before an arbitral tribunal with seat in
Zurich, Switzerland.
About Semperit
The publicly listed company Semperit AG Holding is an internationally-oriented
group that develops, produces, and sells in more than 100 countries highly
specialised rubber and plastic products for the medical and industrial sectors:
examination and surgical gloves, hydraulic and industrial hoses, conveyor belts,
escalator handrails, construction profiles, cable car rings, and products for
railway superstructures. The headquarters of this long-standing Austrian
company, which was founded in 1824, are located in Vienna, and the global R & D
centre is in Wimpassing, Lower Austria. The Semperit Group employs about 11,200
people worldwide, including more than 8,000 in Asia and more than 700 in Austria
(Vienna and production site in Wimpassing, Lower Austria). The Group has 22
manufacturing facilities worldwide and numerous sales offices in Europe, Asia,
and America. In 2013 the group generated sales of EUR 906 million and an EBITDA
of EUR 133 million.
Further inquiry note:
Martina Büchele
Head of Group Communications
Tel.: +43 676 8715 8621
martina.buechele@semperitgroup.com
Stefan Marin
Investor Relations
Tel.: +43 676 8715 8210
stefan.marin@semperitgroup.comwww.semperitgroup.com
end of announcement euro adhoc
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issuer: Semperit AG Holding
Modecenterstrasse 22
A-1030 Wien
phone: +43 1 79 777-210
FAX: +43 1 79 777-602
mail: investor@semperitgroup.com
WWW: www.semperitgroup.com
sector: Synthetics & Plastics
ISIN: AT0000785555
indexes: WBI, ATX Prime, ViDX, Prime Market, ATX Global Players
stockmarkets: official market: Wien
language: English