DCC wins in London High Court
DCC PLC
29 January 2004
DCC wins in London High Court
On 11 November 2002 DCC plc announced that legal proceedings had been issued
against Pihsiang Machinery Manufacturing Company Limited (a Taiwanese public
company), its Chairman and major shareholder Mr Donald Wu and his wife and
Director Mrs Jenny Wu, following their breach of a long term supply agreement
with DMA, DCC's UK based mobility products subsidiary. DCC had announced on 10
May 2002 that its mobility and rehabilitation business had been severely
impacted by the wrongful cessation of its supply of Shoprider powered mobility
products by Pihsiang. The matter was heard in the High Court in London in
October, November and December 2003.
In the High Court in London today Mr Justice Langley delivered his judgment in
favour of DCC's subsidiary DMA and against all three defendants, awarding
damages of Stg£10.2 million (€14.8 million). In the course of a 126 page
judgment Mr Justice Langley found the three defendants had wrongfully repudiated
the long term supply agreement with DMA. He found the evidence of the witnesses
called on behalf of DMA 'straightforward, consistent and truthful'.
In a statement today Jim Flavin, Chief Executive/Deputy Chairman of DCC, said:
'Today's judgment is an endorsement of the strategy, marketing and
distribution expertise of DCC Healthcare and its subsidiary DMA that led to
growth from 12% to 19% in Shoprider's share of the European mobility scooter
market over five years. That achievement and the result of the court action
is a tribute to the hard work and commitment of Morgan Crowe, Managing
Director of DCC Healthcare, Barry O'Neill, Managing Director of DMA, and all
of its management and staff.
DCC is currently launching a new range of powered mobility scooters for the
European market under a DCC owned brand name 'DMA Strider'. These scooters
are manufactured to DMA's own specification by a substantial Taiwanese
company KYMCO.'
There will be a Court hearing on 13 February 2004 to consider the issue of costs
and any applications for permission to appeal.
For reference:
Jim Flavin, Chief Executive/Deputy Chairman - DCC plc (Tel: +353 1 2799400)
Morgan Crowe, Managing Director - DCC Healthcare (Tel: +353 1 2799400)
Kieran Conlon, Investor Relations Manager - DCC plc (Tel: +353 1 2799417)
About DCC plc
DCC plc is a business support services group principally focused on sales,
marketing and distribution in the energy, IT, healthcare and food markets, with
operations in Britain, Ireland and Continental Europe. DCC is listed on the
Irish and London stock exchanges with a current market capitalisation of
approximately €970 million.
This information is provided by RNS
The company news service from the London Stock Exchange
Latest directors dealings
- 22 minutes ago AVI Global Trust
- 32 minutes ago LSL Property Services
- 36 minutes ago Bluebird Merchant Ventures (DI)
- 46 minutes ago Power Probe PLC
- 47 minutes ago Origin Enterprises (CDI)