ST.-PETERSBURG, March 20 - RAPSI. The Moscow District Federal Commercial Court will hear on March 28 the Vyborgskaya Cellulose pulp and paper mill's appeal against lower-court judgments awarding Siemens 565,240 euro and $134,000 in debt under an equipment installation contract.
Siemens seeks to recover the funds due under a December 2007 contract on the installation of an automated control system at three product lines.
The Moscow Commercial Court suspended its proceedings initiated by Siemens' application for the mill's bankruptcy until the judgment to collect its debt under the contract enters into force.
Vyborgskaya Cellulose was established on the basis of the bankrupt Vyborg Pulp & Paper Mill built in the late 1920s by the Finland-based Hackman & K. It started production in May 1927. The mill now produces unbleached softwood sulfite pulp, coated board and paper intended for food products, medical preparations packing and chemicals.