Quant reaches agreement to settle Oji Fibre Solutions dispute
Quant has reached an agreement with Oji Fibre Solutions (NZ) Limited to settle a dispute arising from a contract expiry in 2017. Under the terms of the agreement Quant New Zealand Limited will receive NZD 1.2 million (EUR 0.7 million) of contract termination redundancy cost and Oji Fibre Solutions (NZ) Limited revokes its NZD 8.4 million (EUR 5.1 million) claim on Quant New Zealand Limited.During 2017 a maintenance contract between Oji Fibre Solutions (NZ) Limited ("Oji") and Quant New Zealand Limited ("Quant NZ") expired, which led to the redundancy of a large number of Quant NZ employees.