Industria
The claim against local procurement partner in Germany has been ruled in favour of Kamux - the decision will not have immediate effects on financial result
Kamux has received the decision of the Stuttgart District Court dated January 10 , 2022 regarding legal proceedings against local procurement partner initiated by Kamux's German subsidiary Kamux Auto GmbH. In the process, Kamux Auto GmbH demanded refund of payments from the procurement partner related to purchasing contracts.
The district court has ruled the claim in favour of Kamux. The decision becomes final after the two-week appeal period, and Kamux does not expect the other party to appeal the decision. Due to significant uncertainties in the collection of the receivables, Kamux will not recognize any receivables at this point, and the decision will not have any immediate effects on financial result. The authorities are still investigating the actions of the local procurement partner related to the case.
As previously announced, on July 22, 2021 Kamux Auto GmbH has recognized provisions amounting to EUR 3.9 million in June 2021 related to possible costs and losses.
Kamux Corporation
For more information:
Marko Lehtonen , CFO, Kamux Oyj
Tel. +358 50 575 2006
ir@kamux.fi
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