Belgium : Solvays wholly owned subsidiary, Cytec Industries Inc., prevails in its patent infringement lawsuit in China against Sunshow Specialty Chemical Co. Ltd.
Cytec Industries Inc., a member of the Solvay Group, announced today that Sunshow Specialty Chemical (Yantai) Co., Ltd. (Sunshow), agreed to compensate Cytec for infringement of its patent in China, No. ZL 02826049.X, covering its CYASORB CYNERGY SOLUTIONS V703 product for UV stabilization of thermoplastic olefins in automotive applications.
The payout from Sunshow brings an end to the infringement litigation in the Shenzhen Intermediate People's Court, as well as a parallel proceeding by Sunshow for invalidation of the patent in the State Intellectual Property Office, wherein the Reexamination Boards Decision for Invalidation Request No. 31232 maintained Cytecs patent as valid.
We are pleased to have successfully resolved this litigation, said Domenico Romanino, Senior Vice President of Additive Technologies for Solvay Technology Solutions. Solvay takes protection of its intellectual property very seriously and we remain fully committed to actively enforcing our IP rights against unauthorized users throughout the world while continuing to innovate and create new technology for our customers. While the exact terms of the settlement agreement with Sunshow are not expected to have a material impact on Solvays financial results for 2017, this outcome represents a milestone in our IP enforcement program and fully supports our convictions in asserting our patent.
Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Net sales were 10.9 billion in 2016, with 90% from activities where Solvay ranks among the worlds top 3 leaders. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.
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|Date:||Apr 4, 2017|
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