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Trinity sues Suzlon for supply agreement breach

But Trinity claims that Suzlon failed to take delivery of its obligated number of wind towers in 2010 and 2011. Suzlon has also not secured 2012 and 2013 production space for its obligated purchase of wind towers, the company said.

Diversified manufacturer Trinity Industries said one of its units filed a lawsuit against wind tower maker Suzlon Wind Energy Corp in the district court of Dallas for breaching a supply agreement.

Under the agreement, Suzlon had agreed to buy about $377.3 million worth of 80-meter wind towers from the unit, Trinity Structural Towers, through 2011, Trinity said in a statement.

The agreement was later amended to include an additional $123.8 million worth of wind towers, and to extend the delivery timeframe to 2013, the company said.

But Trinity claims that Suzlon failed to take delivery of its obligated number of wind towers in 2010 and 2011.

Suzlon has also not secured 2012 and 2013 production space for its obligated purchase of wind towers, the company said.

Shares of Trinity closed at $30.05 on Wednesday on the New York Stock Exchange, while those of Suzlon closed at 18.85 rupees on India's National Stock Exchange.

Diversified manufacturer Trinity Industries said one of its units filed a lawsuit against wind tower maker Suzlon Wind Energy Corp in the district court of Dallas for breaching a supply agreement.

Under the agreement, Suzlon had agreed to buy about $377.3 million worth of 80-meter wind towers from the unit, Trinity Structural Towers, through 2011, Trinity said in a statement.

The agreement was later amended to include an additional $123.8 million worth of wind towers, and to extend the delivery timeframe to 2013, the company said.

But Trinity claims that Suzlon failed to take delivery of its obligated number of wind towers in 2010 and 2011.

Suzlon has also not secured 2012 and 2013 production space for its obligated purchase of wind towers, the company said.

Shares of Trinity closed at $30.05 on Wednesday on the New York Stock Exchange, while those of Suzlon closed at 18.85 rupees on India's National Stock Exchange.


Source: http://www.reuters.com/arti...

JAN 5 2012
http://www.windaction.org/posts/32880-trinity-sues-suzlon-for-supply-agreement-breach
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