The subsidiary of Panevezio statybos trestas AB Group, Metalo meistrai UAB, was presented a claim in the amount of SEK 27 million (equivalent to EUR 2,800 thousand as of 31 December 2019) from Strängbetong AB. The claim was based on the statement that the products delivered by the company had defects. The technical examination performed by the management was of the opinion that the claim had no reasonable ground. The first hearing of the case took place in the Arbitration Court in Stockholm in the beginning of 2020.
On 26 May 2020 the Ad Hoc Arbitration that took place in Sweden issued the award ending the more than two-year long dispute on the quality of products delivered by Metalo meistrai UAB to the Swedish company Strängbetong AB. The Stockholm Arbitration Court denied the claim advanced by Strängbetong AB in full and found the case unproven for the reason that the products by Metalo meistrai UAB had been acceptable and of good quality.
We welcome such, in our opinion, fair award by the Stockholm Arbitration Court, which has defended the right, responsible and principled position of Metalo meistrai UAB in respect of their products and market participants. Metalo meistrai UAB holds strong position in the areas of steel structure designing and production.
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