Toronto, Dec. 23, 2008 - SunOpta Inc.and SunOpta BioProcess Inc. today announced that the arbitrator has rendered his decision in the arbitration proceedings with Abener Energia S.A. regarding the Equipment Supply and Engineering Services Agreement related to a bioethanol plant being constructed in Salamanca, Spain.
The ruling of the arbitrator partially allowed Abener's claim and ordered payment be made to Abener in the amount of the EUR 1,329,898. The arbitrator's decision resolves certain disputes related to the interpretation of contractual business terms and does not reflect on the effectiveness of the Company's products and technologies nor the value of its intellectual property.
The Company is reviewing and assessing the English translation of the lengthy ruling and consulting with its counsel to review its options and determine what steps, if any, should be taken in response to the decision. The Company's claim for damages against Abengoa BioEnergy New Technologies, Inc., a related party to Abener, continues in arbitration and a decision at this time is expected in mid 2009.
Due to confidentiality requirements that were agreed upon by both parties as part of the arbitration proceedings, neither party is at liberty to disclose further details.