Samsung-Electro-Mechanics Ltd.

Menomonee Falls, WI: (May-01-07) Magnetek Inc., a digital power control systems company, filed a lawsuit against Korea-based Samsung-Electro-Mechanics Ltd, over a dispute centered on a development agreement between the two companies. In a settlement reached, Magnetek Inc. will receive just over $2.1 million as a payout from Samsung-Electro-Mechanics. Magnetek will receive the payments in four installments between June 1, 2007 and Dec. 1, 2008. The settlement will be reflected in Magnetek's other income in its fiscal fourth quarter, which ends July 1, 2007. [HOUSTON CHRONICLE: COMMERCIAL DEVELOPMENT]

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Published on May-4-07