August 30, 2018 / 6:26 AM / 3 months ago

BRIEF-Sogefi Announces Settlement Of Outstanding Claims

Aug 30(Reuters) - Sogefi SpA:

* SAID ON WEDNESDAY IT HAD SIGNED AN AGREEMENT CONCERNING CLAIMS MADE BY TWO CLIENTS OF ITS UNIT SOGEFI AIR & COOLING RELATING TO SUPPLY OF A DEFECTIVE COMPONENT

* THE AGREEMENT WILL CLOSE ALL OUTSTANDING DISPUTES

* THE AGREEMENT WILL RESULT IN A POSITIVE IMPACT OF EUR 6.6 MLN PRETAX AND EUR 4.3 MLN IN NET PROFIT, DUE TO THE ACCRUALS BOOKED IN PRIOR YEARS

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Further company coverage: (Gdynia Newsroom)

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