OUTOTEC OYJ STOCK EXCHANGE RELEASE JANUARY 9, 2017 AT 3:00 PM
Outotec and Outokumpu settled their patent dispute regarding ferroalloys technology inventions
Outotec and Outokumpu have settled their patent dispute, commenced in 2013, concerning the rights to inventions relating to ferroalloys technology.
The settlement relates to the award issued by the Arbitral Tribunal on August 28, 2015 confirming that the rights of ownership and use ferroalloys technology inventions belong to both Outotec and Outokumpu jointly. With the settlement, the parties withdraw all their claims against each other and Outotec gets the exclusive right to sell and license the said ferroalloys technology inventions against a license fee mutually agreed by the companies.
"As a result of the settlement of this patent dispute, Outotec will be able to commercialize new ferrochrome-nickel technology, which opens up new business opportunities particularly in the stainless steel industry", says Outotec's CTO Kari Knuutila.
The settlement will not impact Outotec's financial guidance for 2016.
For further information, please contact:
Nina Kiviranta, General Counsel
Tel. +358 50 598 8805
Kari Knuutila, Chief Technology Officer
Tel. +358 40 779 9566
Eila Paatela, Vice President - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Outotec Oyj via Globenewswire