Samsung Says Insurance to Cover Costs From Brazil Theft
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Samsung Electronics Co. said insurance will cover most costs related to the theft of truckloads of merchandise from a factory in Sao Paulo owned by the world’s largest smartphone maker.
About 20 bandits invaded the company’s factory in the city of Campinas yesterday morning, using as many as 10 trucks to steal 40,000 units of product, the press office of the state civil police force said by phone. About 50 employees were held hostage as thieves snatched approximately 6.5 billion won ($6.4 million) worth of merchandise, according to Samsung.