Unocal Is Told to Pay $38 Million to Agrium
From Bloomberg News
El Segundo-based Unocal Corp. said an arbitration panel found that the company owed an Agrium Inc. unit $36 million plus $2 million in interest for failing to deliver enough fuel to an Alaska fertilizer plant.
Unocal expects to record pretax, second-quarter costs of about $38 million stemming from the ruling.
Unocal sold the fertilizer plant to Agrium in 2000.
Shares of Unocal fell 30 cents to $37.56 on the NYSE. Shares of Canada-based Agrium rose 31 cents to $13.99, also on the NYSE.
