Celanese Wins Patent Infringement Lawsuit in Taiwan.DALLAS -- In an August 31st Taiwanese court ruling, Celanese Corporation (NYSE NYSE See: New York Stock Exchange :CE)(FWB (Fixed Wireless Broadband) See fixed wireless. :CZZ CZZ Chazan-Ziv-Zakai Bound ) succeeded in protecting its acetic acid acetic acid (əsē`tĭk), CH3CO2H, colorless liquid that has a characteristic pungent odor, boils at 118°C;, and is miscible with water in all proportions; it is a weak organic carboxylic acid (see carboxyl group). patent position. The court ruled that China Petrochemical Development Corp. (CPDC CPDC Community Preservation and Development Corporation CPDC Caribbean Policy Development Centre CPDC Central Philadelphia Development Corporation CPDC Capital Planning, Design and Construction (California State University) ) infringed Celanese's acetic acid patents and awarded Celanese approximately $28 million for the period 1995 - 1999. During the lawsuit, CPDC attempted to invalidate the Celanese patents, but appeals all the way to the Taiwanese Supreme Court upheld Celanese's position. According to David Weidman, president and chief executive officer of Celanese, the Taiwanese ruling "reinforces Celanese's position as the technology leader in acetic acid. We also appreciate the Taiwanese legal system's protection of intellectual property rights by punishing the willful theft of other's rights." While this judgment may be appealed, Celanese expects to prevail due to the validity of its patents. Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals based in Dallas, Texas. The Company has four major businesses: Chemical Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants in North America, Europe and Asia. In 2004, Celanese Corporation and its predecessor had combined net sales of $5.1 billion. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site at www.celanese.com. Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company. |
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