ITT Corporation ITT and its subsidiary Goulds Pumps Inc. today
announced a comprehensive patent settlement agreement with Summit Pump
Inc. of Green Bay, Wis. Pursuant to the settlement agreement, Summit
Pump and ITT resolved a patent infringement dispute relating to Goulds
Pumps' TaperBore™ Plus vaned seal chamber patent and i-Frame® bearing
frame patent. With the consummation of this settlement agreement, Summit
Pump agreed to pay undisclosed compensation to ITT, all patent
infringement litigation against Summit Pump will be terminated, and
ITT's Goulds Pumps business will remain the sole supplier of the
patented i-Frame®.
"We are pleased with this outcome, and our actions demonstrate that we
are fully committed to take any and all actions
See full press release
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