Dixon Technologies issues $220 million corporate guarantee for subsidiary Padget to Lenovo
NEW DELHI: Homegrown contract manufacturer Dixon Technologies said on Friday that it has issued a continuing and irrevocable corporate guarantee of $220 million (~₹2,101 crore) on behalf of its subsidiary, Padget Electronics, in favour of Lenovo Ireland International.
The guarantee aims to ensure that Padget Electronics discharges all its payment obligations towards Lenovo Ireland for the purchase of raw materials, parts, and components required for manufacturing its products, Dixon said in a regulatory filing.
