Settlement reached in warehouse case


Moscow City Arbitration Court granted approval to a settlement agreement of the parties resolving a law suit brought by OOO Shell Neft against the largest Russian contract logistics operator OOO Itella, the Russian subsidiary of Itella Corporation (Finland), and its insurer, OSAO Ingosstrakh.

The claim is connected to damages due to collapse of the storage rack system at Itella warehouse in Saint Petersburg in 2012.

As a result of joint efforts, the parties reached an agreement on amicable settlement of the case. The companies continue cooperation in logistics. Settlement will not have impact on Itella Russian Q3 results.

- Our companies have not ceased the long-term partnership because of the accident. Shell continues as our customer, says Nikolai Voinov, the General Director of Itella Russia.