Arbitral award confirmed Outotec''s joint ownership rights for ferroalloys technology patents and confirmed Outokumpu''s breach of cooperation agreement
(Thomson Reuters ONE) -
OUTOTEC OYJ PRESS RELEASE AUGUST 28, 2015 at 4:20 PM
Arbitral award confirmed Outotec''s joint ownership rights for ferroalloys
technology patents and confirmed Outokumpu''s breach of cooperation agreement
Outotec commenced arbitration proceedings in the patent dispute against
Outokumpu Oyj on February 14, 2014. The dispute concerns the rights to
inventions relating to ferroalloys technology, for which Outokumpu has applied
for patents without Outotec''s permission. The parties had concluded their mutual
Technology Cooperation Agreement in 2006.
According to the award issued by the Arbitral Tribunal on August 28, 2015:
rights of ownership and use ferroalloys technology inventions belong to both
Outotec and Outokumpu jointly. In addition, the Arbitral Tribunal stated that
Outokumpu had breached the Technology Cooperation Agreement by applying for the
patents alone and by omitting to inform Outotec of its intention to file patent
applications for the said inventions.
Arbitral Tribunal also confirmed that Outotec has the exclusive right to
commercially use the said inventions after Outotec and Outokumpu have agreed on
the issue.
Outotec''s claims for compensation were dismissed as premature.
Outotec will peruse the award in more detail and disclose separately its
possible implications on the legal proceedings related to the same technologies
at the Helsinki District Court.
"Confirming Outotec''s rights to these patents is important with regard to
Outotec''s ability to commercialize this new technology. Outotec has developed
methods for processing ferroalloys for decades, and this new technology opens up
new business opportunities for Outotec", says Outotec''s CTO Kari Knuutila.
The arbitral award on the ferroalloys technology patent dispute will not impact
Outotec''s financial guidance for 2015.
For further information please contact:
OUTOTEC
Nina Kiviranta, General Counsel
Tel. +358 50 598 8805
Kari Knuutila, Chief Technology Officer
Tel. +358 40 779 9566
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
Emails: firstname.lastname(at)outotec.com
DISTRIBUTION:
Main media
www.outotec.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Outotec Oyj via GlobeNewswire
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Datum: 28.08.2015 - 09:20 Uhr
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