TORONTO, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Neo Chemicals & Oxides (Europe) Ltd., an affiliate of Neo Performance Materials Inc. (“Neo”, the “Company”) (TSX:NEO), which distributes rare earth- and rare metal-based functional materials, said today that it would appeal a German lower court’s decision regarding Neo’s innovative rare-earth-based vehicle emissions catalyst products, which helps vehicle manufacturers meet increasingly stringent air pollution standards in markets around the world.
Neo will appeal a December 19, 2017 decision by the Mannheim Regional Court that Neo’s vehicle emissions catalyst products infringe on a patent (EP 1435338) held by Anan Kasei, Co. Ltd., an affiliate of Brussels-based Solvay. The ruling’s expected impact is limited to sales of one class of Neo vehicle emissions catalyst products now sold to customers in Germany. The Company has been selling this product commercially in Germany since 2014 and in 2017, these sales represented less than 2% of consolidated sales. The Company sells other vehicle emission catalyst products in Germany, and a variety of patent-free markets outside of Germany are available for the products that were the subject of the German court’s ruling. Neo’s lawsuit to invalidate EP 1435338 in Germany, which was filed in June 2016, is scheduled for trial in January 2019.
Neo has been engaged in litigation in Germany to invalidate claims on multiple Solvay patents on other vehicle emissions catalysts. The German Federal Patent Court has invalidated several claims associated with these patents in first instance for which Neo had previously been found to infringe by courts dealing with infringement. These decisions are not yet final. For example:
Neo’s highly effective ceric oxide product is helping automakers minimize nitrogen oxides (NOx) and other harmful emissions from vehicles. The Company reiterated that it will continue its ongoing vehicle catalyst material development efforts, often done in partnership with its customers, given the increasing urgency to reduce global vehicle emissions and help automakers meet tighter vehicle emissions requirements.
About Neo Performance Materials
Neo Performance Materials is a global leader in the innovation and manufacturing of rare earth- and rare metal-based functional materials, which are essential inputs to high technology, high growth, future-facing industries. The business of the Company is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. The Company is headquartered in Toronto, Ontario, Canada; with corporate offices in Greenwood Village, Colorado, US; and Beijing, China. The Company operates globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit www.neomaterials.com.
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