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Toyo Engineering Corporation ( (JP:6330) ) has provided an update.
Toyo Engineering Corporation and its subsidiary have been notified of an arbitration filed by GULF NC COMPANY LIMITED and its affiliates at the Singapore International Arbitration Centre. The dispute involves alleged defects in gas turbine generators delivered by Toyo Engineering for power generation facilities in Thailand, with claims amounting to approximately 5.5 billion yen. Toyo Engineering disputes the claims, citing expired warranty periods and a lack of prior discussions, and believes the arbitration will not impact its business performance.
More about Toyo Engineering Corporation
Toyo Engineering Corporation operates in the engineering, procurement, and construction (EPC) industry, focusing on plant and facility services, including environmental technology. Its subsidiary, TEC Project Services Corporation, provides similar services, emphasizing maintenance and EPC for plants.
Average Trading Volume: 229,396
Technical Sentiment Signal: Strong Buy
Current Market Cap: Yen44.77B
Learn more about 6330 stock on TipRanks’ Stock Analysis page.