Windflow receives substantial payment from NZ Windfarms

18 November 2009

Windflow Technology Limited (WTL) is pleased to announce it has received overnight a substantial payment from NZ Windfarms Limited (NWF) of $1.8 million. In mid-August NWF began withholding payments from WTL.

Prior to today’s payment, the total withheld had reached $4.1 million. As a result of the payment the High Court proceedings between the parties have been discontinued. WTL and NWF are continuing efforts to resolve the outstanding contractual issues, including the remaining sum outstanding.

For further information please contact:
Geoff Henderson
Tel: 03 365 8960