Late payment withdrawn from Bridgestone Hungary account
Late payment with interest has been withdrawn from the account of Bridgestoneʼs Hungarian plant on behalf of one of its subcontractors, according to a press statement sent to the Budapest Business Journal.
“In the possession of a legal warranty, the bailiff has collected the remittances from the accounts of Bridgestone Tatabánya Termelő Kft.,” translation agency Inter Lingua Kft, a subcontractor of Bridgestone’s Hungarian plant, said in a press statement sent to the Budapest Business Journal. Due to the additional costs of legal proceedings, 131% of the original outstanding principal was withdrawn from the Bridgestone account.
Inter Lingua said in the statement that “to its best knowledge, the wages of workers due in June are not endangered.”
Inter Lingua was earlier reported to be demanding late payment interest, accusing the local operation of the tire manufacturing giant of regular late payments, according to a report by state news agency MTI. In a reaction to that earlier report, Bridgestone told MTI that it would not comment on the details of current legal issues or commercial contracts, online news portal index.hu reported. However, Bridgestone stressed in its statement sent to MTI that the firm cooperates well with 750 suppliers in Hungary, buying services and products from them.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.