Settlement Agreement Reached in Enpro Technologies Patent Lawsuit
Velocity Dynamics will allow Enpro to sell and manufacture the disputed product
Enpro Technologies, Ltd., Lee’s Summit, Mo., recently announced that they have reached a settlement agreement in the patent infringement lawsuit filed against Enpro by Velocity Dynamics. As part of the settlement agreement, Velocity Dynamics has granted a license to Enpro to sell and manufacturer the product.
Under the agreement, both companies will continue to compete in the marketplace with products related to U.S. Patent No. 7,267,477.
“Enpro is extremely pleased an agreement has been reached that will benefit all involved. Actions were a result of focus on our customers and an effort to protect them, and our investment in this product, from litigation,” said Tom Holzbaur, president of Enpro.