Monadelphous Group Limited
(ASX:MND) will lodge a counterclaim in response to a claim filed against it by Wiggins Island Coal Export Terminal Pty Ltd.
The terminal is located at Gladstone in Queensland and the $130 million claim involves work done through MMM, a 50 per cent owned subsidiary of Monadelphous.
In response Monadelphous plans to lodge a counter-claim in the Supreme Court of Queensland worth in more than $200 million.
Monadelphous says it does not believe these actions will have a material impact on its overall earnings over the current 2015 financial year.
Monadelphous Group reported a net profit of $60.65 million in the first half of the 2015 financial year.
