European court rules in favour of Cemex in Strabag case
First publishedon www.AggBusiness.com
The International Arbitration Court in the International Chamber of Commerce has ruled that Strabag’s decision to pull out of purchasing production facilities owned by Cemex in Austria and Hungary in 2009 was invalid.
The cancellation came after an anti-trust court in Austria gave the operation the go-ahead under certain conditions which did not satisfy Strabag. The European firm will now have to pay Cemex compensation.