US industrial gas company Air Products filed suit in a US court against Polish chemical group Ciech, demanding $114 million in damages. The US firm claims that Ciech's subsidiary Zachem unlawfully terminated its contract in December 2012, which resulted in damages of $16 million. Air Products demands that Ciech should cover the damages and pay a compensation of at least $98 million. Ciech sees the claims as unjustified.
“We think that Air Products wants to obtain unjustified benefits in connection with the termination of the supply agreement of amine (TDA). The agreement was effectively terminated by Zach because of Air Products' fault. The reason for the termination was suspending of supplies of amine (TDA) by the plant in Pasadena.” Reads Ciech's statement.
The Ciech Chemical Group is one of the biggest chemical companies in the CEE region. It's listed on Warsaw Stock Exchange.
From Warsaw Business Journal
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