Flow Int'l (FLOW) Enters Patent License Agreement with KMT Waterjet Systems
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Flow International Corporation (Nasdaq: FLOW), entered a patent license agreement with KMT Waterjet Systems Inc.
Under terms of the agreement, by March 9, 2012, KMT will stop selling certain of its ultra-high pressure waterjet pumps that currently compete with Flow's patented, industry-leading 94,000 psi rated waterjet products. From the date of the agreement through March 9, 2012, KMT will make royalty payments to Flow for any of those pumps sold. In return, Flow will not pursue a claim of patent infringement against KMT related to this important ultra-high pressure seal technology.
Under terms of the agreement, by March 9, 2012, KMT will stop selling certain of its ultra-high pressure waterjet pumps that currently compete with Flow's patented, industry-leading 94,000 psi rated waterjet products. From the date of the agreement through March 9, 2012, KMT will make royalty payments to Flow for any of those pumps sold. In return, Flow will not pursue a claim of patent infringement against KMT related to this important ultra-high pressure seal technology.
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