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Sinovel Seeks $17 Million From AMSC in Arbitration

(Corrects description of product in second paragraph.)

Feb. 28 (Bloomberg) -- Sinovel Wind Group Co.’s complaint against American Superconductor Corp. claiming it was sold substandard parts will be heard by the Beijing Arbitration Committee.

Sinovel, China’s largest wind-turbine maker, is seeking 105 million yuan ($17 million) plus fees for eight turbine-control units delivered in 2008 that it claims were substandard, the Beijing-based company said in a filing with the Shanghai Stock Exchange today.

The company said profits may be reduced as a result of the arbitration case.

American Superconductor is suing Sinovel in Chinese courts, seeking more than $1.2 billion in damages for allegedly violating sales contracts and stealing intellectual property. Before the suit, Sinovel was the Devens, Massachusetts-based company’s largest customer.

To contact the reporter on this story: Benjamin Haas in New York at bhaas7@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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