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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Andrea Electronics Corporation (CE) | USOTC:ANDR | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0001 | 0.00 | 00:00:00 |
From Feb 2020 to Feb 2025
HELSINKI--Stora Enso Oyj (STERV.HE) Tuesday said it will pay 22 million dollars to cover its share of a settlement that will close arbitration proceedings involving the Montes del Plata pulp mill project in Uruguay.
The Finnish paper, pulp and cardboard maker said the settlement payment will not have a material impact on its earnings. It will be recorded as capital expenditure in Stora Enso's second-quarter financial report.
The Montes del Plata mill, which started operations in 2014, is a joint venture between Stora Enso and the Chilean company Celulosa Arauco y Constitucion S.A. The joint venture was the target of arbitration proceedings started by a subsidiary of the Austrian plant engineering group Andritz AG (ANDR.VI) in 2014.
The parties to the arbitration have now signed an agreement that will end the proceedings. As a part of the agreement, Montes del Plata will make a $44-million cash payment to Andritz. Stora Enso's share of the payment is 50%.
Write to Juhana Rossi at juhana.rossi@wsj.com; Twitter: @WSJordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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