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ICICI Securities Report
AIA Engineering Ltd. has finally reached a settlement with respect to the case filed against it by Magotteaux for patent infringement relating to Sintercast products.
As per the full and final binding settlement:
1. Magotteaux agrees never to litigate this issue before any other forum;
2. All proceedings and claims, including related damages, are fully and finally settled;
3. The company cannot claim the litigation expense from Magotteaux.
Currently, the contribution from technology under consideration is less than 10% of AIA Engineering's overall revenues and the company has moved to a more advanced technology.
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