Tuesday, November 7, 2017 - 18:45

Ansaldo STS (STS.MI) informs that, following its recent press releases, AB Storstockholms Lokaltrafik (“SL”) has terminated unilaterally today the contract with Ansaldo STS for the upgrade of the signalling system of the “Metro System Red Line” of Stockholm, alleging breach by Ansaldo STS and asking that Ansaldo STS repays within 17 November 2017 advance payments received (about 231 million Sek, equal to about Euro 24 million, plus VAT for about 57 million Sek, equal to about Euro 6 million), plus interest, in addition to penalties and damages allegedly suffered, estimated in the aggregate of 163 million Sek, equal to about Euro 17 million. The opinion of the Company is that the unilateral termination of contract by SL, as well as the request of reimbursement of advance payment and damages, are without grounds. The Company is therefore evaluating all the judicial initiatives to defend its rights, including the payment of works performed up to date under the contract with SL and compensation for its damages.