US group Apogee Enterprises, Inc. announced earlier this month that Apogee and Marvin Lumber and Cedar Company have agreed to a comprehensive settlement of all claims with respect to the Marcon Coatin…
US group Apogee Enterprises, Inc. announced earlier this month that Apogee and Marvin Lumber and Cedar Company have agreed to a comprehensive settlement of all claims with respect to the Marcon Coating, Inc. and Viratec Thin Films, Inc. litigation. The settlement completes the US company“s purchase of the joint venture businesses from Marvin Lumber and Cedar Company. Apogee agreed to pay US$ 41 million to Marvin Lumber and Cedar Company on or before 27 January 1997 for their 50% interest in the businesses and certain leased assets. Both parties have agreed to irrevocably release each other from all outstanding claims related to this litigation, other than certain trade accounts payable in the ordinary course of business.