Innova Robotics & Automation Announces Legal Settlement
FORT MYERS, FL -- (MARKET WIRE) -- 03/02/07 --
Innova Robotics & Automation, Inc. (OTCBB: INRA), a robotics technology firm, today announced Robotic Workspace
Technologies, a wholly-owned subsidiary has reached a settlement of its
lawsuit with ABB Inc. of Auburn Hills, Michigan and ABB Automation
Technologies AB of Vasteras, Sweden. The case, which was pending before
the United States District Court for the Middle District of Florida, Fort
Myers Division, Civil Action No. 2:04-cv-611-FtM-29SPC, involved claims
that the ABB companies misappropriated certain trade secrets relating to
RWT's Universal Robot Controller technology and had breached an April 2002
Confidentiality Agreement.
Walt Weisel, Chairman and CEO of Innova Robotics & Automation, Inc., said,
"We are pleased that this matter has been resolved. Looking forward, we
believe we are on course to continue our innovations and worldwide growth
in this exciting field of robotics."
About Innova Robotics & Automation, Inc.
Fort Myers, Fla.-based Innova Robotics & Automation (OTCBB: INRA) pioneers
innovative control, software and communication solutions that make robotics
and automated systems more productive, powerful and profitable for
customers in the telecommunications, manufacturing, aerospace, research,
and service industries. The Company is chartered to continue expanding its
growing suite of technologies through acquisitions and organic growth.
Innova operates through three subsidiaries, Robotic Workspace Technologies
(RWT), CoroWare Technologies, and Innova Robotics, which offer convergent
technology and expertise that bridge robots, facilities and business
systems for greater functionality and ROA. Visit Innova online at
www.innovaroboticsautomation.com.
Forward-Looking Statements:
Forward-looking statements such as "believe," "expect," "may," "plan,"
"intend," etc., contained herein are within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve risks
and uncertainties and are based on the Company's beliefs and assumptions it
made using information currently available to it and which reflect current
views concerning those future events. Actual results could differ
materially. Therefore, undue reliance should not be placed on any
forward-looking statements, since they apply only as of today's date, and
accordingly, reference should be made to the Company's periodic filings
with the SEC.
Contacts:
Press:
Jennifer Gery
Brainerd Communicators, Inc.
212-986-6667
gery@braincomm.com
Or:
Sandra L. Brooks
INCOMM International Inc.
904-636-5085
slbrooks@incomminternational.com
Investors:
Todd St.Onge
Brainerd Communicators, Inc.
212-986-6667
stonge@braincomm.com