04 May 2012 18:40 [Source: ICIS news]
LONDON (ICIS)--German specialty chemicals major Evonik has filed for arbitration in a dispute related to its disposal of dimethylterephthalate (DMT) producer Oxxynova, officials said on Friday.
As part of the disposal, Oxxynova undertook to maintain production at its site in ?xml:namespace>
Evonik claims that Oxxynova violated the undertaking when in 2007 it decided to close the site, and it holds Gigaset, as guarantor, liable.
However, Gigaset said the 2006 agreement allowed for the closure of the facility, subject to certain conditions, and that those conditions had been met.
The case was filed with the German Institution of Arbitration in
Oxxynova has a 240,000 tonne/year DMT plant at Styerberg near
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