May 20, 2013 11:00 AM JST
Hitachi Metals Enters Into Settlement Agreements
with Yantai Zhenghai, Anhui Earth-Panda and Ningbo Jinji
Tokyo, Japan, May 20, 2013-Hitachi Metals, Ltd. (TOKYO : 5486) (ISIN : JP3786200000) announced today that Yantai Zhenghai Magnetic Material Co., Ltd. (Yantai Zhenghai), Anhui Earth-Panda Advance Magnetic Material Co., Ltd. (Anhui Earth-Panda), and Ningbo Jinji Strong Magnetic Material Co., Ltd. (Ningbo Jinji) recently entered into settlement agreements with Hitachi Metals.
Yantai Zhenghai, Anhui Earth-Panda and Ningbo Jinji have entered into settlement agreements with Hitachi Metals pursuant to which an investigation now pending before the United States International Trade Commission (ITC) against Yantai Zhenghai, Anhui Earth-Panda and Ningbo Jinji for infringement of certain Hitachi Metals U.S. Patents by their sale into the United States of certain sintered Nd-Fe-B magnets will be terminated against those parties. Under the terms of the settlement, Yantai Zhenghai, Anhui Earth-Panda and Ningbo Jinji have become authorized to sell their sintered rare earth magnets in the United States, among certain other authorized territories, in return for the payment of certain fees to Hitachi Metals.
HML is continuing to pursue the ITC investigation against those respondents remaining in the investigation.
Hitachi Metals is a recognized worldwide leader in the field of sintered rare earth magnets. Hitachi Metals owns over 600 sintered rare earth magnet patents worldwide, including over 100 patents in the United States alone. This significant patent portfolio contains patents important for the safe, efficient, commercial manufacture of sintered rare earth magnets.
Press Inquiries Hitachi Metals, Ltd. Corporate Communications
1-2-1,Shibaura Minato-ku,Tokyo 105-8614 Japan http://www.hitachi-metals.co.jp E-mail firstname.lastname@example.org