Exclusive: China's Huawei seeks compensation from Flex over withheld goods [Reuters]
Flex Ltd. - Ordinary Shares (FLEX)
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Source: Reuters
Exclusive: China's Huawei seeks compensation from Flex over withheld goods - Reuters 4 Min Read HONG KONG (Reuters) - Huawei Technologies said it was seeking compensation from its contract manufacturer Flex Ltd ( FLEX.O ) for illegally withholding some 400 million yuan ($57 million) worth of its goods in the wake of a U.S. trade ban on the Chinese firm. Huawei spokesman Guo Fulin did not comment on the amount, but a person with direct knowledge of the matter said the company had sent a lawyer’s letter to Flex on Monday demanding “hundreds of millions of yuan” in damages for lost income, wasted materials, equipment replacements and other costs. In the letter, Huawei says Flex’s Chinese unit “disregarded Chinese law” by refusing to return production equipment, raw materials and half-made products belonging to Huawei worth around 400 million yuan at its Zhuhai factory “for nearly two months” after Washington banned Huawei in May, the source said. Headquartered in California, Flex is am
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FLEX
News
- Flex Announces Kevin Krumm as Chief Financial OfficerPR Newswire
- Flex Ltd. (FLEX) Hits Fresh High: Is There Still Room to Run? [Yahoo! Finance]Yahoo! Finance
- Flex Completes Acquisition of Crown Technical SystemsPR Newswire
- Flex Set to Join S&P MidCap 400; Azenta and Concentra Group Holdings to Join S&P SmallCap 600 [Yahoo! Finance]Yahoo! Finance
- Flex Acquires JetCool to Expand Data Center and Power PortfolioPR Newswire
FLEX
Earnings
- 10/30/24 - Beat
FLEX
Sec Filings
- 11/22/24 - Form 8-K
- 11/14/24 - Form SC
- 11/13/24 - Form SC
- FLEX's page on the SEC website