Isola - ITEQ SettleLitigation
Date Published: Feb 16, 2010
CHANDLER, ARIZONA, February 16, 2010 - ISOLA USA Corp, a leading designer, developer and manufacturer of high-performance base materials for the printed circuit board industry, and ITEQ Corp. today announced settlement of all outstanding litigation between the two companies. As part of the settlement, ITEQ will pay Isola an undisclosed sum and withdraw all of its litigation against Isola in the U.S. and Taiwan. Isola will also drop its counter-claims against ITEQ in the U.S.
Although Isola Corp. will not grant a license for its U.S. patent #6,509,414 (the "414 Patent") to ITEQ, Isola did grant ITEQ a covenant not to sue as long as ITEQ's chemical formulations conform to specific confidential restrictions. ITEQ also agreed to pay a royalty to Isola on the global sales of ITEQ's low-loss products through the life of the "414 Patent."
Commenting on today's announcement, Ray Sharpe, President and CEO of Isola Group, stated, "I am extremely pleased that ITEQ and Isola were able to reach an out-of-court settlement and avoid potentially lengthy and disruptive litigation. This is clearly the best outcome for both companies and the industry."
CEO of ITEQ Corp., Michael Kao, stated, "I am pleased that Isola and ITEQ are able to agree to an amicable solution for mutual benefit, especially for our IT200LK product. It is in ITEQ's interest to always uphold and protect the benefits for not only ITEQ, but also for our global customers.
About Isola
Isola Group, SARL, with headquarters in Chandler, Arizona, is a technology-driven, global designer, developer and manufacturer of high-performance base materials used in the manufacture of advanced multilayer printed circuit boards worldwide. Isola's investment in research and development, technology and state-of-the-art manufacturing facilities and practices results in superior value to our customers, with innovative solutions to minimize costs and cut manufacturing time. Our commitment is reflected in our global network of sales and distribution offices allowing us to meet evolving customer needs and provide a full spectrum of services.
Isola's broad range of products are used in multiple applications including: aerospace, automotive, broadband telecommunications, military, chip packaging and testing, high-end computing, high-speed digital designs and other specialty markets. Isola operates multiple manufacturing, R&D and sales offices throughout Europe, Asia and the United States. For a complete listing of product offerings and facilities visit our website at www.isola-group.com.
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