A favorable verdict for Metso in a patent infringement lawsuit in the United States
Metso Corporation's stock exchange release on December 7, 2010 at 11.00 a.m. local time
Metso has been successful in protecting its intellectual property rights against a competitor. A jury of United States District Court for the Eastern District of New York has given a verdict in a favor of Metso in a lawsuit Metso versus Powerscreen International Distribution Ltd (today known as Terex GB Ltd), Terex Corporation, Emerald Equipment Systems, Inc. et al., involving the protection of Metso's lateral folding conveyor patent rights related to mobile crushing and screening plants. According to the jury verdict, Metso's lateral folding conveyor patent in question is valid and the defendants have infringed it since year 2000.
Further the jury has found that the infringement is willful, therefore potentially allowing Metso to collect multiple damages. The verdict awards damages to Metso in the amount of about EUR 12 million (about USD 16 million). Subject to post-trial motions, a court ruling is expected to be received in spring 2011 at which point total compensation for damages payable to Metso will be known. In the event the court ruling is appealed, the final outcome of the lawsuit would be expected by 2012. Metso will book the compensation in its financial results only when the final outcome of the lawsuit is clear, earliest in 2011.
Metso will continue to be active in protecting its intellectual property rights globally, acting with the objective to enhance fair competition.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 27,000 employees in more than 50 countries. www.metso.com
For further information, please contact:
Erica Aminoff, Senior Vice President, Chief Legal Officer, Mining and Construction Technology, Metso, tel. +358 20 484 3246
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation,
tel. +358 20 484 3253
Vice President, Investor Relations
NASDAQ OMX Helsinki Ltd