Cabot Microelectronics Announces Patent Litigation Settlement.Business Editors/Technology Writers AURORA, Ill.--(BUSINESS WIRE)--Feb. 28, 2002 Cabot Microelectronics Corporation (Nasdaq: CCMP CCMP Comprehensive Conservation and Management Plan CCMP Counter-Mode/CBC-Mac Protocol (IEEE 802.11I encryption algorithm) CCMP Capacitively Coupled Microwave Plasma CCMP Coalition of Concerned Medical Professionals ) announced today the settlement of all pending 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. 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. involving Cabot Microelectronics and Rodel, Inc. The litigation related to certain aspects of Cabot Microelectronics' business and had been controlled by Cabot Microelectronics, but had been between Rodel and Cabot Microelectronics' former parent, Cabot Corporation Cabot Corporation is a specialty chemicals and performance materials company. It operates in four segments: the Carbon Black Business, the Metal Oxides Business, the Supermetals Business, and the Specialty Fluids Business. Cabot's headquarters is located in Boston, Massachusetts. . None of the parties involved in the litigation admits liability in the settlement. Although the terms of the settlement agreement are confidential, the parties are able to announce that Cabot Microelectronics will make a one-time payment to Rodel of one million dollars ($1,000,000), which will be recorded as expense in the second fiscal quarter of this year, and will receive from Rodel a fully paid-up, worldwide license in all patents that were the subject of the litigation and their foreign equivalents. "We are pleased to have settled this costly and distracting matter," stated Dr. Matthew Neville, Cabot Microelectronics' Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With these matters now behind us, we will be better able to focus on our customers' interests in the further development and advancement of chemical mechanical planarization technologies," concluded Neville. About Cabot Microelectronics Corporation Cabot Microelectronics, headquartered in Aurora, Illinois, USA, is the world leader in the development and supply of high-performance polishing slurries used for chemical mechanical planarization (CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ), a process that enables the manufacture of the most advanced integrated circuit (IC) devices and hard disk drive components. The Company reported fiscal 2001 revenues of $227.2 million. For more information please visit the Cabot Microelectronics web site at www.cabotcmp.com or call 1-630-499-2600. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement The statements contained in this news release may contain "forward-looking statements." Actual results may differ materially from those anticipated in such forward-looking statements. All of these statements are expressly qualified in their entirety by the risk factors and other cautionary statements included in Cabot Microelectronics' filings with the Securities and Exchange Commission. Cabot Microelectronics Corporation assumes no obligation to update this forward-looking information. |
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