Breaking News

Tweet TWEET

Rafako Engineering Extends Losses as Alstom Takes Legal Action

Rafako SA (RFK), the power engineering unit of Poland’s third-largest builder PBG SA (PBG), headed for the lowest in more than a week after saying Alstom Power Systems GmbH filed a suit against it in a German court.

The shares lost 0.4 percent to 7.8 zloty, the lowest on a closing basis since May 18, as of 9:12 a.m. in Warsaw trading.

The unit of France’s Alstom SA (ALO) seeks 28.7 million euros ($36 million) from its subcontractor for damages related to work on a German power plant, Rafako said in a regulatory statement yesterday. The Polish company said the lawsuit is groundless and should be rejected in full.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.