Feb 16 (Reuters) - Algoma Central Corp ALC.TO :
* Announces favourable outcome in Mingde shipyard arbitration
* UK Arbitration Tribunal hearing contract dispute regarding three contracts
between co and Nantong Mingde Heavy Industries Stock Co
* Will now proceed to make formal demand for reimbursement of instalment
payments as provided for under the terms of the contracts
* Says funds intended for the ships will be redirected towards investment in
replacement fleet renewal contracts
* Says Tribunal decision has resolved three of the outstanding claims and
claims for the remaining contract are being pursued
* Source text for Eikon ID:nCNWkt4G8a
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