KBC Advanced Technologies plc Announcement of US Order Granting Injunction Against Hyprotech Pursuant to the UK Arbitration Injunction Award of 22 April 2004.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--May 14, 2004 On 7 May 2004 a state district court in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , confirmed the Arbitration Award An arbitration award (or arbitral award) is a determination on the merits by an arbitration tribunal in an arbitration, and is analogous to a judgment in a court of law. of 22 April 2004(1) obtained by KBC KBC Kenya Broadcasting Corporation KBC Kaun Banega Crorepati (Indian TV show) KBC Koahnic Broadcast Corporation (Anchorage, Alaska) KBC Keyboard Connector KBC Kill Before Capture in UK arbitration proceedings. The judge issued an injunction that adopts the Award in its entirety and "...is binding upon Hyprotech, their officers, agents, servants, employees, and attorneys, and those persons in active concert or participation with them who receive actual notice of this order." The injunction is a public document available at the Harris County Harris County is the name of several counties in the United States:
(1) The award on 22 April 2004 by the Arbitrator, Mr. Philip Naughton
QC, which the Texas injunction refers determined inter alia:
That for a period of three years from the date of the award,
Hyprotech Company ("Hyprotech"), a former subsidiary of AEAT now
owned by Aspen Technologies Inc ("Aspen"), shall not develop, sell
or market RefSYS or any other product which competes with HYSYS.
Refinery, and/or KBC's Models and/or CAMS; and
That until further notice Hyprotech may not communicate
information not publicly available regarding HYSYS.Refinery to
Aspen or any other third party.
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About KBC: KBC Advanced Technologies plc is a leading independent consulting and services group, delivering improvements in business performance and asset value to owners and operators in the oil refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar , petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. and processing industries worldwide. KBC analyses plant operations and business processes, and recommends changes that deliver material and measurable improvements in profitability. KBC works in partnership with its clients and offers implementation services when requested to assist them in realizing financial benefits. In support of these efforts, KBC makes extensive use of its proprietary process modelling and its refinery-wide simulation technology. KBC provides strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. advice, petroleum and chemical price forecasting, economic studies, capital project reviews, and process engineering services to help clients find the most cost-effective way to achieve their short- and long-term objectives. Formed in 1979, KBC has its principal offices in the UK, USA, Singapore, Japan, Russia, and the Netherlands. For more information, visit www.kbcat.com. |
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