Shelton, Conn. – Baldwin Technology Company, Inc., a global leader in process automation technology for the printing industry, announced the settlement of its patent dispute with technotrans.
Baldwin Germany GmbH, Friedberg, as the plaintiff and technotrans AG, Sassenberg, as the defendant, have agreed to an out-of-court settlement to terminate the proceedings that have been continuing for a number of years in connection with the infringement of a patent. Technotrans is to pay an amount of EURO 6.5million (approximately $9.6 million) in compensation to Baldwin. In return, Baldwin undertakes to declare the proceedings before the Dusseldorf district court in respect of the amount as settled.
The Boards of Management of both parties have reached the conclusion that this solution is in the best interests of both companies.