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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.
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