Actuant Announces Settlement Agreement.Business Editors MILWAUKEE--(BUSINESS WIRE)--March 4, 2003 Actuant Corporation (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) announced today that it has reached a settlement in its patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. and related litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against Lippert Components, Inc. ("Lippert"), a subsidiary of Drew Industries Incorporated ("Drew"). This includes a settlement among all the subsidiaries of Actuant and Drew, primarily Power Gear and Lippert. Terms of the agreement grant Drew and its subsidiaries a non-exclusive license, subject to the payment of royalties, to use certain patents, including those Power Gear and Actuant patents named in the litigation until expiration. Other terms of the agreement were not disclosed. "I believe this settlement is in the best interest of all parties involved including the RV manufacturers and end users who purchase the patented products," commented Robert C. Arzbaecher, President and Chief Executive Officer of Actuant. "By agreeing to this settlement, both companies are able to continue selling their current slide-outs while continuing to develop new products for the marketplace." Actuant, headquartered in Milwaukee, Wisconsin For other places with the same name, see Milwaukee (disambiguation). Milwaukee is the largest city within the state of Wisconsin and 25th largest (by population) in the United States. , is a diversified industrial company with operations in over 20 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded hydraulic and electrical tools. Products are offered under such established brand names as Enerpac, Gardner Bender Gardner Bender is a manufacturer of professional electrician's tools and supplies. External links
For further information on Actuant and its business units, visit the Company's website at www.actuant.com. |
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