The Manitowoc Company Receives Favorable Final Determination in Sany Patent Infringement Lawsuit
17 Aprile 2015 - 3:04PM
Business Wire
Confirms Competitive Differentiation of
Variable Position Counterweight (VPC) technology
The Manitowoc Company, Inc. (NYSE: MTW) today announced that The
United States International Trade Commission (“ITC”) has issued a
favorable final determination in the patent infringement and trade
secrets case filed by Manitowoc Cranes (“Manitowoc”) against Sany
Heavy Industries and Sany America (collectively “Sany”).
“Innovation has always been a core value of our organization and
key to our success over the years. Our Variable Position
Counterweight (VPC) technology is a game changer in the industry
and one example of our ongoing commitment to this endeavor. We are
thrilled with the ITC’s decision, and believe today’s final
determination further validates our clear technological leadership
in the market place,” commented Glen E. Tellock, Manitowoc’s
chairman and chief executive officer.
On April 16, 2015, the ITC issued a Notice of the Commission’s
Final Determination and Cease and Desist Order against Sany in
Certain Crawler Cranes and Components (Inv. No. 337-TA-887). The
Final Determination was issued in connection with the ITC’s
investigation into Sany’s conduct based upon a complaint filed by
Manitowoc, which alleged that Sany had violated Section 337 of the
Tariff Act.
In its Final Determination, the ITC determined that at least one
Sany crane product infringed one of Manitowoc’s patents and that
six trade secrets of Manitowoc were both protectable as trade
secrets and misappropriated. As a result of these findings, the ITC
has issued a limited exclusion order that prohibits importation by
Sany of cranes (a) that infringe one of Manitowoc’s patents or (b)
that use any of six of Manitowoc’s trade secrets for a period of
ten years. The ITC also issued a cease and desist order that
prohibits Sany America from importing, selling, marketing,
advertising, or distributing cranes that were manufactured using
any of the six Manitowoc trade secrets found to be
misappropriated.
About The Manitowoc Company, Inc.
Founded in 1902, The Manitowoc Company, Inc. is a
multi-industry, capital goods manufacturer with 92 manufacturing,
distribution, and service facilities in 25 countries. The company
is recognized globally as one of the premier innovators and
providers of crawler cranes, tower cranes, and mobile cranes for
the heavy construction industry. Manitowoc is also one of the
world's leading innovators and manufacturers of commercial
foodservice equipment, which includes 24 market-leading brands of
hot- and cold-focused equipment. In addition, both segments are
complemented by a slate of industry-leading product support
services. In 2014, Manitowoc’s revenues totaled $3.9 billion, with
approximately half of these revenues generated outside of the
United States.
Forward-looking Statements
This press release includes "forward-looking statements"
intended to qualify for the safe harbor from liability under the
Private Securities Litigation Reform Act of 1995. Any statements
contained in this press release that are not historical facts are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
based on the current expectations of the management of the company
and are subject to uncertainty and changes in circumstances.
Forward-looking statements include, without limitation, statements
typically containing words such as "intends," "expects,"
"anticipates," "targets," "estimates," and words of similar import.
By their nature, forward-looking statements are not guarantees of
future performance or results and involve risks and uncertainties
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results and developments to differ
materially include, among others:
- uncertainties associated with new
product introductions, the successful development and market
acceptance of new and innovative technology and products that drive
growth, including Manitowoc’s variable position counterweight
technology;
- the ability to focus on the customer,
new technologies, and innovation;
- unanticipated changes in customer
demand, including changes in global demand for high-capacity
lifting equipment;
- uncertainties in litigation and
regulatory proceedings relating to the enforcement and defense of
intellectual property, including patents, trademarks and trade
secrets; and
- risks and other factors cited in
Manitowoc's filings with the United States Securities and Exchange
Commission.
Manitowoc undertakes no obligation to update or revise
forward-looking statements, whether as a result of new information,
future events, or otherwise. Forward-looking statements only speak
as of the date on which they are made. Information on the potential
factors that could affect the company's actual results of
operations is included in its filings with the Securities and
Exchange Commission, including but not limited to its Annual Report
on Form 10-K for the fiscal year ended December 31, 2014.
The Manitowoc Company, Inc.Carl J. Laurino, 920-652-1720Senior
Vice President & Chief Financial Officer
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