Brief: Orbital Corporation Agreed Comprehensive Resolution Of Cost Reimbursement Dispute With Insitu Inc
30/08/2022 24:56
Aug 30 (Reuters) - Orbital Corporation Ltd OEC.AX :
* AGREED A COMPREHENSIVE RESOLUTION OF COST REIMBURSEMENT
DISPUTE
WITH KEY CUSTOMER INSITU INC
* REIMBURSEMENT DISPUTE ABOUT 'TERMINATION OF CONVENIENCE'
BY
BOEING INSITU OF 3RD ENGINE DEVELOPMENT PROGRAM UNDER CO'S LONG
TERM SUPPLY DEAL
* BOEING INSITU TO MAKE PAYMENT TO CO OF A$1.8M TO BE
TREATED AS A
PRE-PAYMENT TO BE OFFSET AGAINST FUTURE ORBITAL UAV ENGINE
PRODUCTION
Source text for Eikon: ID:nASX9scDjg
Further company coverage: OEC.AX
((Reuters.Briefs@thomsonreuters.com;))
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