Wolftank Group AG Faces Legal Setback in Italy

Wolftank Group AG has announced a first-instance legal ruling against its subsidiary, Wolftank DGM Srl, by the Italian civil court, Tribunale Ordinario di Bologna. The court has ordered the company to pay approximately EUR 4.5 million in damages to a customer. This case stems from a 2020 project where Wolftank DGM Srl was a subcontractor, resulting in environmental damage.

The majority of the damages, around three-quarters, are attributed to alleged loss of profits for the customer. Wolftank DGM Srl views these claims as excessive. Insurance will cover about a quarter of the damages, and the company is currently evaluating further options with its insurer for the remaining amount. Wolftank DGM plans to appeal the court's decision.