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Technology Stocks : Amkor Technology Inc (AMKR)
AMKR 40.87+0.2%Dec 23 3:59 PM EST
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To: Jim Oravetz who wrote (1039)5/2/2005 7:44:46 AM
From: Jim Oravetz  Read Replies (1) of 1056
 
Amkor, Fujitsu Settle Out of Court
By Richard Ball -- 4/29/2005
Electronics Weekly


Assembly and test player Amkor Technology has agreed to pay $40 million to settle litigation with Fujitsu over a defective packaging compound.

"Our decision to enter into the Fujitsu settlement was based on a careful economic evaluation of the circumstances particular to this case, including the size of the damage claims and the potential outcome of a jury trial," said John Boruch, Amkor's president and COO.

Amkor had previously settled claims with Philips and Seagate, and has outstanding legal cases brought against the company by Fairchild and Maxim. These will not result in such large settlements, claimed Amkor.

This week's announcement is just one in a string of lawsuits resulting from allegedly defective molding compound supplied by Sumitomo Bakelite. Amkor used the compound in the packaging of chips for at least five companies, including Fairchild, Fujitsu and Philips.

Sumitomo launched the EMExxxxU series molding compound in the mid-1990s, but withdrew it in 2002.

This week Fujitsu announced sales of $44.5 billion for its financial year 2004, level with the previous 12 months. Operating income was up slightly to $1.5 billion.

Electronics Weekly is the London-based sister publication of Electronic News.
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