China Aerospace Unit Settles Arbitration with Metro Suzhou and Intermec

MT Newswires Live10-08

China Aerospace International (HKG:0031) said its unit CASIL Semiconductor has reached a settlement with Metro (Suzhou) Technologies and Intermec Technologies to resolve ongoing arbitration cases, according to a Monday Hong Kong bourse filing.

Shares of the firm were down over 1% in morning trade on Wednesday.

Under the agreement, CASIL Semiconductor will pay $1.32 million to Intermec to repurchase chips under previous supply contracts, while Metro Suzhou will pay $398,893 for stock and materials, and settle an additional $816,490 in payables within five working days of the effective date.

Both parties agreed to withdraw all claims and counterclaims within three days after completing payments.

The settlement also includes a six-year cooperation framework starting January 2026, under which Metro Suzhou will place a certain volume of orders with CASIL Semiconductor, which in turn will provide rebates on future business.

China Aerospace said the settlement is expected to restore cooperation between the parties and will not have any material adverse impact on the group's operations.

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