Tuesday, December 9, 2014
Western Digital Pays $100K To Resolve Chinese Compliance Issue
Irvine-based Western Digital reported this morning that it has paid $100,000 and restructured a department, in order to put to rest two, non-compliance matters raised by China's Ministry of Commerce (MOFCOM), related to WD's acquisition of HGST back in 2012. Western Digital currently had been ordered by MOFCOM to keep its HGST operations as a separate, independent competitor as part of MOFCOM's approval of the company's acquisition of HGST, for at least two years. WD now has the option to request a waiver of that "hold separate" order now that two years have passed after the acquisition. WD said it believes a lift of that condition--which forces HGST to operate as a fully independent company--would "best serve the interests of the company, the industry, the Chinese economy and consumers worldwide."