Penreco Settles Patent Infringement Lawsuit With Craft Express; Craft Express Agrees That Penreco's Gel Candle Patents Are Valid and Infringed.
In the lawsuit, Penreco asserted that Craft Express and Belcher had infringed on two of Penreco's patents for gel candles, U.S. Patent Nos. 5,879,694 and 6,066,329. Under the terms of the settlement agreement, Craft Express and Belcher are required to pay a substantial amount of money to Penreco and are enjoined from future infringing activities. Craft Express has acknowledged that its past activities, including past sales of CP9000 resin for the purpose of making gel candles, were infringing on Penreco's patents. Craft Express also has acknowledged that Penreco's patents are valid and enforceable. Craft Express will become a reseller of Penreco's Versagel(R) products for use in making gel candles.
The parties will ask the U.S. District Court for the Western District of Tennessee to enter a consent judgment confirming the validity and enforceability of the patents, the infringement of the patents by Craft Express and Belcher, and enjoining Craft Express and Belcher from future infringing activities. Penreco will, in turn, dismiss the pending lawsuit.
"The equitable resolution of this lawsuit has been a priority for Penreco," said Tom Readal, Penreco's president. "We believe that it is in the best interests of both parties to avoid continued costly legal expenses and to put this matter behind us. I consider the terms of the settlement, which again upholds the validity of our patents, to be very favorable to us."
Penreco manufactures and markets hydrocarbon specialty products such as white mineral oils, petrolatums and solvents, which are provided to a myriad of industries.
The company's white mineral oils and petrolatums are highly refined forms of petroleum that are pure enough to meet Food and Drug Administration requirements. In addition, Penreco produces a patented line of gelled products -- Versagel(TM) and Synergel(TM) -- used in cosmetics, pharmaceuticals, home care, candle making and in industrial applications.
Headquartered in Houston, the company's technology center is located in The Woodlands, Texas. Penreco has manufacturing facilities in Karns City, Pa. and Dickinson, Texas. More about the company can be found on its Web site, http://www.penreco.com/ .
Contacts: Cheryl Budzinski Penreco (713) 236-6967 Scott Scheffler Pierpont Communications (713) 627-2223
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Contact: Cheryl Budzinski of Penreco, +1-713-236-6967; or Scott Scheffler of Pierpont Communications, +1-713-627-2223, for Penreco