Munich, December 16, 2013. Gigaset AG (‘Gigaset’) has today achieved a 70% success in its lawsuit with Evonik Degussa GmbH (‘Evonik’).
Evonik had, in May 2012, filed an arbitration case against Gigaset and demanded a penalty payment in the amount of EUR 12mn.
In its arbitration award, which was delivered to Gigaset today, the arbitration panel reduced Evonik’s claim to EUR 3.5mn and dismissed the rest, bringing Evonik’s success rate down to only 30%.
Gigaset had accrued 3.6mnEUR in this matter. As such, the award will not impact the annual results.
Gigaset will however examine the arbitration award in detail to determine whether the decision requires review by means of a annulment request (‘Aufhebungsantrag”) in front of a public court.
Gigaset AG, Munich, is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones. The premium supplier ranks second worldwide with around 1,400 employees and a market presence in around 70 countries.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and so is subject to the very highest requirements for transparency. Its shares are traded on the Frankfurt Stock Exchange under the symbol ‘GGS’ (ISIN: DE0005156004).
Further information is available at http://www.gigaset.ag
Tel.: +49 (0)89 444456-937