Enerflex Says Received Notice That Its Customer Intends To Terminate EH Cryo Project Contract With Effect As Of September 8, 2024; Co. Views Purported Termination As Wrongful Attempt
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Enerflex has received a notice from its customer intending to terminate the EH Cryo project contract effective September 8, 2024. Enerflex views this as a wrongful attempt, following a Force Majeure notice due to a drone attack, and plans to dispute the termination.
August 20, 2024 | 9:10 pm
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Enerflex is facing a potential contract termination for the EH Cryo project, which it views as wrongful. The company plans to dispute this termination, which follows a Force Majeure notice due to a security incident.
The potential termination of the EH Cryo project contract could negatively impact Enerflex's financials and operations. The company's decision to dispute the termination suggests a legal battle, which could lead to uncertainty and potential costs. This situation follows a Force Majeure notice due to a security incident, adding complexity to the issue.
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IMPORTANCE 80
RELEVANCE 100