Brief: Campine Gets Refund of EUR 3.9 Million On Original Fine In Battery Case

Campine NV

10/02/2020 17:12

Feb 10 (Reuters) - CAMPINE NV  CAMB.BR :
    * CAMPINE WAS AWARDED A REFUND OF 3,9 MIO EUR ON ORIGINAL
FINE
    * POSITIVE EFFECTS FOR CAMPINE'S 2019 RESULTS
    * DEADLINE FOR APPEAL IN THIS CASE EXPIRED END OF JANUARY
2020 AND
EC DID NOT GO INTO APPEAL IN THIS MATTER, NEITHER DID CAMPINE
    * ON NOVEMBER 7(TH) 2019, GENERAL COURT OF EU RULED IN
FAVOUR OF
CAMPINE IN BATTERY CASE 40018 BY ACKNOWLEDGING ITS VERY LIMITED
PARTICIPATION IN BATTERY PURCHASING ARRANGEMENTS IN PERIOD
2009-2012
    * AS RESULT OF THIS VERDICT, CAMPINE WAS AWARDED A REFUND OF
3,9
MILLION EUR ON ORIGINAL FINE
    * CAMPINE RECEIVED CASH ON ITS BANK ACCOUNTS IN DECEMBER
2019
    * AS CAMPINE PURCHASES LARGE QUANTITIES OF ANTIMONY METAL
OUTSIDE
CHINA, IT CURRENTLY DOES NOT HAVE SUPPLY RISKS
    * DEMAND FOR CAMPINE'S PRODUCTS IN SPECIALTY CHEMICALS
SHOWED AN
UPTAKE AT START OF 2020, WHILST BATTERY SECTOR REMAINED STABLE
    * CAMPINE'S NET RESULT FOR 2019 WILL BE CONSIDERABLY HIGHER
THAN
EXPECTED IN COMPARISON TO NORMAL OPERATIONAL RETURNS ORIGINALLY
FORECASTED FOR 2019
    * EXTRA CASH WILL HELP US TO SPEED UP EXPANSION INVESTMENT
PROGRAM
FOR OUR RECYCLING ACTIVITIES-CEO

Source text for Eikon:  ID:nGNE4R9sCf 
Further company coverage:  CAMB.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7785110;))