Helsinki, Finland, 2014-05-09 12:00 CEST (GLOBE NEWSWIRE) -- Glaston Corporation Press release 9 May, 2014 at 1 pm.
Canadian Court ordered Chinese competitor Northglass to pay damages to Glaston in patent infringement case
In November 2010, Canada’s Federal Court in Toronto, Ontario, Canada granted judgment in Glaston’s favour on the infringement of Glaston’s two patents for its unique tempering and bending technology. The Court declared that Shanghai Northglass Technology & Industry Co. Ltd. infringed Glaston’s Canadian Patent Nos. 1,308,257 and 2,146,628, and ordered that Shanghai Northglass pay damages in an amount to be assessed.
On 29 April, 2014, the Federal Court gave its decision on the damages. The Court ordered Shanghai Northglass to pay damages to Glaston in the total amount of approximately EUR 1.3 million, including interest. Glaston will not book any compensation in its financial results until the date of payment has been confirmed.
Glaston Group will continue to be active in protecting its Intellectual Property Rights globally and has currently several proceedings and investigations ongoing in Europe, USA and Asia.
For further information, please contact
Taina Tirkkonen, General Counsel, Glaston Corporation, Tel. +358 10 500 500
GLASTON CORPORATION
Agneta Selroos
Director, Communications and Marketing
Glaston Corporation
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our product portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.