31st Jan 2014 14:28
LONDON (Alliance News) - Dewhurst PLC Friday said its Hungarian subsidiary would defend a USD7 million complaint from AIG Speciality Insurance over a product failure with the "utmost vigour."
Dewhurst said that Dewhurst Hungary KFT has received a complaint from AIG Specialty Insurance, claiming USD7 million after a purported product failure of a component supplied to a third party.
Dewhurst, which supplies components to the lift, keypad and transport industries, said that it had received the complaint from the District Court of Arizona.
In a statement, Dewhurst said that the subsidiary will defend the claim with "the utmost vigour."
Dewhurst shares were down 2.9% Friday afternoon at 500.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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