IBA says on verge of settling German dispute

LOUVAIN-LA-NEUVE, Belgium, March 18 Mon Mar 18, 2013 6:36am EDT

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LOUVAIN-LA-NEUVE, Belgium, March 18 (Reuters) - Belgium's IBA SA said on Monday it had resolved a legal dispute over one of its proton therapy devices in the German city of Essen, which was partly responsible for its net loss last year.

It said all parties had agreed terms in a letter of intent, which should be finalised in April, and that it expected no further negatives.

IBA made a net loss of 5.8 million euros ($7.6 million), weighed down by 27.9 million euros of non-recurring expenses, the majority of which were connected to the Essen project. ($1 = 0.7654 euros) (Reporting By Ben Deighton; editing by Philip Blenkinsop)

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