Scapa commences legal action against ConvaTec
Further to the announcement made on 3 June 2019, Scapa Group Ltd (AIM: SCPA) announces that on 10 July, Scapa Tapes North America LLC. (“Scapa Tapes”), a US subsidiary of Scapa Group Ltd, filed a complaint against ConvaTec Inc. (“ConvaTec”), for breach of contract with regard to a Master Supply Agreement (MSA) between those respective parties, in which Scapa Tapes is claiming damages in excess of $83.81m and a declaratory judgement.
In addition, Scapa Group Ltd and Scapa Tapes have filed a motion to dismiss the complaint filed by ConvaTec with regard to the MSA between ConvaTec and Scapa Tapes.
The complaint is available for public review on http://civilinquiry.jud.ct.gov/CaseDetail/PublicCaseDetail.aspx?DocketNo=HHDCV196114103S; and the motion to dismiss is available for public review on https://ecf.njd.uscourts.gov/cgi-bin/login.pl.
For further information:
Scapa Group Ltd (0161 301 7430)
Heejae Chae – Group Chief Executive
Oskar Zahn – Chief Finance Officer
Numis Securities Limited (020 7260 1000)
(Nominated Adviser and Joint Broker)
Richard Thomas/Mark Lander
Berenberg (Joint Broker)
Chris Bowman / Toby Flaux
020 3207 7800
FTI Consulting (020 3727 1000)
Victoria Foster Mitchell
About Scapa Group Ltd
Scapa Group Ltd is a diversified Healthcare and Industrial company focused on bringing best-in-class innovation, design and manufacturing solutions to its customers.
Scapa Healthcare is the trusted strategic partner of choice for the world's leading companies in Advanced Wound Care, Consumer Wellness and Medical Device Fixation. We partner with the top global MedTech companies to develop and manufacture innovative skin friendly medical device fixation and topical solutions, from inception through to market delivery, from our state-of-the-art facilities.
For further information, please visit www.scapahealthcare.com
Scapa Industrial is a global supplier of bonding solutions and manufacturer of adhesive-based products which offer meaningful value in industrial applications due to their lightweight, easy-to-apply properties. We are recognised for our unparalleled range of products, including adhesive tapes, films and foams, and we can engineer custom designs for even the most unique applications.
For further information, please visit www.scapaindustrial.com