Electronics Production | April 23, 2010
Flextronics & Friwo to settle out of court
Friwo AG (formerly CEAG AG) and the EMS-provider Flextronics will most likely end their open arbitration through a settlement deal.
Flextronics purchased the former Friwo business unit Friwo Mobile Power (FMP) and subsequently raised claims of EUR 6.8 million, stating a breach of warranties under the purchase agreement.
The proposed settlement provides that Friwo will pay will pay around EUR 3 million to Flextronics and all warrenty claims stemming from the purchase will be satisfied.
The proposed settlement provides that Friwo will pay will pay around EUR 3 million to Flextronics and all warrenty claims stemming from the purchase will be satisfied.
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