Nordion Files Amended Statement Of Claim In IPFA Proceedings
The amended statement of claim under the IPFA seeks damages against AECL for negligence and breaches of the IPFA, among other things, during design and in construction supervision and quality assurance. The damages claimed are for the recovery of Nordion’s costs up to the end of the IPFA, net of certain amounts settled between Nordion and AECL at the time of entering into the ILTSA.
The parties have agreed on a preliminary schedule for proceeding in the IPFA claim that provides for the filing of the amended statement of claim by Nordion at this time. The schedule then provides for AECL to file motions if it sees fit and to file a defence. Documentary productions and discoveries are currently anticipated to begin during 2013. Based on the current schedule, the matter would not be expected to be set down for trial before mid-2014.
Nordion legal costs associated with MAPLE arbitration cost determination and the pursuit of the IPFA lawsuit against AECL currently are expected to be approximately $2 million in fiscal 2013.
About Nordion Inc.Nordion Inc. (TSX: NDN) (NYSE: NDZ) is a global health science company that provides market-leading products used for the prevention, diagnosis and treatment of disease. We are a leading provider of targeted therapies, sterilization technologies, and medical isotopes that benefit the lives of millions of people in more than 60 countries around the world. Our products are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. Nordion has approximately 500 highly skilled employees worldwide. Find out more at www.nordion.com and follow us at http://twitter.com/NordionInc.Forward-Looking StatementsCertain statements contained in this news release constitute "forward-looking statements". These statements are based on current beliefs and assumptions of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. For additional information with respect to certain of these beliefs, assumptions, risks and uncertainties, please refer to Nordion’s Annual Information Form for fiscal 2011 available on SEDAR at www.sedar.com and on EDGAR on www.sec.gov.
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