Terex (TEX) Clarifies Patent Infringement Judgment
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Terex Corporation (NYSE: TEX) previously disclosed an adverse jury verdict and injunction in a patent infringement lawsuit brought against Powerscreen International Distribution Limited (“Powerscreen”) and Terex Corporation by Metso Minerals Inc. in United States District Court for the Eastern District of New York.
It is important to note that the judgment and injunction only relate to certain models of Powerscreen mobile screening plants with the alleged infringing folding side conveyor design that were sold in the United States. These models have been updated with Powerscreen’s new proprietary S range of conveyors which have even better stockpiling capability than previous models. Thus, the judgment and injunction do not affect the continued use of any Powerscreen mobile screening plants currently in operation in the United States, the sales of any Powerscreen mobile screening plants outside of the United States, or the sale of any screening plants sold by Powerscreen in the United States or elsewhere. Likewise, the judgment and injunction do not affect the sale of any other products manufactured by Terex or any of its subsidiaries. Accordingly, Terex does not expect the judgment or injunction will have a material impact on Terex’s consolidated business or overall operating results.
Accordingly, Terex and Powerscreen will be appealing the judgment and the related injunction and believe that they will ultimately prevail on appeal.
It is important to note that the judgment and injunction only relate to certain models of Powerscreen mobile screening plants with the alleged infringing folding side conveyor design that were sold in the United States. These models have been updated with Powerscreen’s new proprietary S range of conveyors which have even better stockpiling capability than previous models. Thus, the judgment and injunction do not affect the continued use of any Powerscreen mobile screening plants currently in operation in the United States, the sales of any Powerscreen mobile screening plants outside of the United States, or the sale of any screening plants sold by Powerscreen in the United States or elsewhere. Likewise, the judgment and injunction do not affect the sale of any other products manufactured by Terex or any of its subsidiaries. Accordingly, Terex does not expect the judgment or injunction will have a material impact on Terex’s consolidated business or overall operating results.
Accordingly, Terex and Powerscreen will be appealing the judgment and the related injunction and believe that they will ultimately prevail on appeal.
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