DGAP-Adhoc: KHD Humboldt Wedag International AG: KHD informed of arbitration award


KHD Humboldt Wedag International AG  / Key word(s): Legal Matter

12.02.2016 14:29

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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KHD informed of arbitration award  

Cologne, February 12, 2016 - KHD Humboldt Wedag Interational AG (KHD),
Cologne, was informed of an award from a Portuguese arbitration court. In
this award KHD and its subsidiary Humboldt Wedag, Inc. (HW Inc.), Norcross,
Georgia, USA, are jointly ordered to pay damages to a customer in South
America. HW Inc.'s arbitration claim for disbursement of outstanding
payments, reimbursement for a called bank guarantee, as well as additional
compensation (for damages) was denied. The wording and exact impact of the
arbitration award are still to be analyzed in detail. Nevertheless, KHD
already assessed that the arbitration award is expected to lead to expenses
for the KHD Group of approx. EUR 15 million in the 2015 financial year.

KHD Humboldt Wedag International AG's CEO, Johan Cnossen, commented on the
arbitration award: "This ruling does not reflect our own or our legal
counsel's expectations in any way. We believe that it is grossly incorrect
and will exhaust all promising possibilities for success in proceeding
against this judgement."

Reflection of this arbitration award in KHD Group's financial statements
will not have an impact on the forecast result for the 2015 financial year
as adequate provisions have already been set up.

KHD Group
KHD is a global leader for providing equipment and services to cement
producers with over 150 years of experience in the cement industry. Process
engineering and project management are among the core competencies of the
technology-focused group. KHD offers a wide spectrum of products and
services for the cement industry and is a leader in environmentally
friendly and energy-efficient products for the grinding and pyro processing
sections of the plants. The holding company KHD Humboldt Wedag
International AG, based in Cologne, Germany, coordinates its
internationally operating subsidiaries. The group employs more than 750
employees worldwide, including customer service centers in growing markets
like India, Russia and the Asia Pacific region. KHD Humboldt Wedag
International AG (ISIN: DE0006578008, WKN: 657800) is listed on the
Frankfurt stock exchange (General Standard). More information: www.khd.com.

Additional Information:
ISIN: DE0006578008
Securities identification number (WKN): 657800
Market segment: Regulated Market (General Standard) of the Frankfurt Stock
Exchange
KHD Humboldt Wedag International AG
Colonia-Allee 3
51067 Cologne, Germany

End of Ad-hoc Announcement

Contact:
KHD Humboldt Wedag International AG
Michael Nielsen
Investor Relations 
Tel.: +49 (0)221 - 6504-1500
E-Mail: michael.nielsen@khd.com
Website: www.khd.com


12.02.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      KHD Humboldt Wedag International AG
              Colonia-Allee 3
              51067 Köln
              Germany
Phone:        +49 (0)221 6504 1500
Fax:          +49 (0)221 6504 1409
E-mail:       michael.nielsen@khd.com
Internet:     www.khd.com
ISIN:         DE0006578008
WKN:          657800
Listed:       Regulated Market in Frankfurt (General Standard); Regulated
              Unofficial Market in Berlin
 
End of Announcement                             DGAP News-Service
 
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