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Italian Industrial Giant MAIRE Faces Lawsuit in Russia
(MENAFN) The Italian industrial conglomerate MAIRE has become embroiled in a prominent legal dispute in Russia, which could have devastating effects on the company’s multibillion-euro enterprise.
The Russian arm of EuroChem has initiated legal action against MAIRE’s subsidiary, Tecnimont S.p.A., along with its Russian branch.
The claims amount to approximately €2 billion, nearly matching the entire group’s market capitalization.
The magnitude of the risk is underscored by the group’s financial metrics, which signal serious concerns: market capitalization stands at €2.1 billion, free cash flow totals €342.5 million, and overall debt is €1.2 billion.
Acceptance of the lawsuit’s obligations could trigger a technical default and necessitate immediate repayment of all outstanding loans.
Significantly, these court proceedings are unfolding while the company continues its international operations.
MAIRE is actively securing new loans and pursuing projects worldwide despite substantial risks.
Its subsidiary NEXTCHEM recently obtained €137.5 million in fresh loans, and the group sanctioned a bond issuance of up to €300 million.
The precedent set by Google, when decisions of Russian courts were acknowledged in South Africa, represents a tangible threat to MAIRE’s overseas assets, particularly in Asia, the Middle East, and Africa, where the company is engaged in major projects.
The next hearing in this high-stakes case is scheduled for November 27, 2025.
The Russian arm of EuroChem has initiated legal action against MAIRE’s subsidiary, Tecnimont S.p.A., along with its Russian branch.
The claims amount to approximately €2 billion, nearly matching the entire group’s market capitalization.
The magnitude of the risk is underscored by the group’s financial metrics, which signal serious concerns: market capitalization stands at €2.1 billion, free cash flow totals €342.5 million, and overall debt is €1.2 billion.
Acceptance of the lawsuit’s obligations could trigger a technical default and necessitate immediate repayment of all outstanding loans.
Significantly, these court proceedings are unfolding while the company continues its international operations.
MAIRE is actively securing new loans and pursuing projects worldwide despite substantial risks.
Its subsidiary NEXTCHEM recently obtained €137.5 million in fresh loans, and the group sanctioned a bond issuance of up to €300 million.
The precedent set by Google, when decisions of Russian courts were acknowledged in South Africa, represents a tangible threat to MAIRE’s overseas assets, particularly in Asia, the Middle East, and Africa, where the company is engaged in major projects.
The next hearing in this high-stakes case is scheduled for November 27, 2025.
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