Spain's Repsol and Arco settle lawsuit

Spanish energy group Repsol has said it and U.S.-based Arco have resolved a legal dispute on the rights to co-production of propylene oxide and vinyl benzene in Spain.
"The terms of the deal, which both parties have agreed to keep confidential, are very satisfactory, both for their content and their amicable resolution," Repsol said in a statement.
With this resolution, Repsol faces no impediments to the building of a newpropylene oxide and vinyl benzene plant in Tarragona, which will proceed according to plan. The plant is expected to open mid-year 1999.