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AYER, Mass., Dec. 27, 2018 (GLOBE NEWSWIRE) — AMSC (Nasdaq: AMSC), a all-around activity solutions provider confined wind and ability filigree industry leaders, appear today that its wholly-owned accessory Suzhou AMSC Superconductor Co. Ltd. (AMSC China) accustomed the additional and final chapter acquittal of the Renminbi (RMB) agnate of $25 actor from Sinovel Wind Group Co. Ltd. (Sinovel).



AMSC, AMSC China and AMSC Austria GMBH, and Sinovel had entered into a adjustment acceding on July 3, 2018 to achieve all absolute bartering disputes amid the parties. Under the acceding of the adjustment agreement, Sinovel agreed to pay AMSC China an accumulated banknote bulk in RMB agnate to $57.5 million, consisting of two installments.  Sinovel paid the aboriginal chapter of $32.5 actor to AMSC China on July 4, 2018.   

For added advice about the adjustment acceding amid the parties, amuse accredit to AMSC’s address on Form 8-K filed with the U.S. Securities and Exchange Commission on July 9, 2018.

About AMSC (Nasdaq:AMSC) AMSC generates the ideas, technologies and solutions that accommodated the world’s appeal for smarter, cleaner … bigger energy™. Through its Windtec™ Solutions, AMSC provides wind agent cyberbanking controls and systems, designs and engineering casework that abate the amount of wind energy. Through its Gridtec™ Solutions, AMSC provides the engineering planning casework and avant-garde filigree systems that optimize arrangement reliability, efficiency, and performance. AMSC’s solutions are now powering gigawatts of renewable activity globally and are acceptable the achievement and believability of ability networks in added than a dozen countries. Founded in 1987, AMSC is headquartered abreast Boston, Massachusetts with operations in Asia, Australia, Europe, and North America. For added information, amuse visit www.amsc.com.



AMSC, Windtec, Gridtec, PowerModule, and Smarter, Cleaner … Bigger Activity are trademarks or registered trademarks of American Superconductor Corporation. All added cast names, artefact names, trademarks, or account marks accord to their corresponding holders.

AMSC Contacts

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