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MINOLTA REACHES SETTLEMENT OF BUSINESS DISPUTE WITH HONEYWELL

 MINOLTA REACHES SETTLEMENT OF BUSINESS DISPUTE WITH HONEYWELL
 RAMSEY, N.J., March 3 /PRNewswire/ -- Minolta Camera Co., Ltd. today announced that it has reached an agreement in principle settling all issues in its business dispute with Honeywell Inc.
 The agreement calls for Minolta to pay Honeywell $127.5 million. In addition to settling the lawsuit, including Honeywell claims for interest, the agreement provides Minolta with a fully paid-up worldwide license to manufacture and sell its products under all of the Honeywell patents involved in the lawsuit.
 "This troublesome business dispute is now behind us. We have settled the dispute in a manner that ensures the continued financial strength and vitality of Minolta, and enables us to concentrate totally on serving our customers with a full line of products in the U.S. and around the world," said Sam Kusumoto, chairman and chief executive officer of Minolta Corporation, the company's U.S. subsidiary. "America is our largest and most important market, and we are committed to maintaining our industry-leading position.
 "Reaching a decision to settle was not an easy one," Kusumoto continued. "However, we believe that eliminating the cost and distraction of prolonged litigation is in the best interests of our 2,900 U.S. employees, as well as the tens of thousands of Minolta dealers and customers who have supported us in this dispute.
 "Now we can again devote our complete attention and resources to do what we do best at Minolta: research, develop and market state-of-the- art camera, office equipment, document imaging and related products which appeal to millions of customers in the United States and around the world," Kusumoto said.
 Minolta Corporation distributes photographic, business equipment and office automation products. Minolta Corporation subsidiaries include Minolta Business Systems, Inc., Minolta Copier Corporation of New York, and Mohawk Marketing Corporation in Virginia City, Va. Minolta also operates a toner plant, Minolta Advance Technology, Inc., in Goshen, N.Y.
 -0- 3/3/92
 /CONTACT: Michael Gross, 212-484-7721, or Steve Rosenbaum, 212-484-7421, both of Minolta/ CO: Minolta Corporation; Honeywell Inc. ST: New Jersey, Minnesota IN: HOU SU:


PS -- NY101 -- 4753 03/03/92 22:14 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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