Electronics Production |
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.