Metso settles intellectual property dispute in United States
Metso Corporation's stock exchange release on June 8, 2010 at 5:30 p.m. local time
A lawsuit involving the protection of certain Metso intellectual property rights, Metso versus FLSmidth-Excel LLC, Excel Foundry & Machine, Inc., et al., United States District Court for the Eastern District of Wisconsin, has been settled. According to the settlement agreement, FLSmidth-Excel LLC and Excel Foundry & Machine, Inc., without admitting liability, have paid to Metso compensation in the amount of approximately EUR 20 million (USD 25 million). Otherwise the settlement agreement is confidential. The sum will be booked to Mining and Construction Technology's Q2/2010 result.
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
Further information for press, 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