Electronics Production | May 08, 2009
Flextronics with request for arbitrations from CEAG
CEAG is alleged to have violated guarantees - from the sale of the former business unit FRIWO Mobile Power (FMP) to a subsidiary of Singapore-based Flextronics International.
The CEAG AG has received a request for arbitration. The alleged violation of the guarantees stems from the share purchase agreement and the amount in dispute is €6 million. The CEAG AG will now carefully examine the extent to which the application is admissible and if the material is well founded, a press release states.