Solutia, Sinorgchem, and KKPC Reach Global Settlement in Antidegradant Patent Dispute
Solutia Inc. (NYSE: SOA), Jiangsu Sinorgchem Technology Co., Ltd., and Korea Kumho Petrochemical Co., Ltd. announced today that they have reached a global settlement to resolve all disputes among them involving Solutia's patents for processes to produce 4-ADPA, a chemical intermediate used to make rubber antidegradants.
Under the terms of the settlement, Solutia grants Sinorgchem and KKPC licenses to manufacture 4-ADPA under Solutia's patents, which do not expire until 2019. As licensees, Sinorgchem and KKPC are also granted certain rights to enforce those patents. Financial terms of the settlement were not disclosed.
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