Voridian announces patent infringement settlement
KINGSPORT, Tenn., Jan. 16, 2002 - Voridian Company, a division of Eastman Chemical Company, today announced it has reached a settlement agreement with Nan Ya plastics Corporation, America in the patent infringement lawsuit filed by Eastman in 2000.
The lawsuit involved a patent owned by Eastman that relates to Voridian's PET polymers business. The settlement involves the payment of an undisclosed sum by Nan Ya to Eastman in exchange for a license covering certain Nan Ya PET products. Terms of the settlement were not disclosed.
"Eastman has a long-standing history of respecting patents and all other intellectual property," said T. A. Smith, group vice president for Voridian's Polymers Business Group. "We are pleased to have reached a settlement in this lawsuit."
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