Business News
Baldwin and technotrans end patent dispute
Monday 28. September 2009 - Baldwin Germany GmbH, Friedberg, as the plaintiff and technotrans AG, Sassenberg, as the defendant have agreed an out-of-court settlement to terminate the proceedings that have been continuing for a number of years in connection with the infringement of a patent.
technotrans is to pay an amount of 6.5 million (approx. USD 9.6 million) in compensation to Baldwin. In return, Baldwin undertakes to declare the proceedings before the Düsseldorf district court in respect of the amount as settled.
The Boards of Management of both parties have reached the conclusion that this solution is in the best interests of both companies.
This settlement will reduce technotrans AGs operating result for the third quarter of 2009 by the difference between the figure in question and the corresponding provision ( 3.7 million at December 31, 2008).