Milacron Inc. announced July 1 that blow molding press maker Graham Engineering Corp., has agreed to buy a license to use Milacron's personal-computer-based machine controls.
Milacron said it will dismiss a lawsuit it filed against Graham Engineering in U.S. District Court for the Northern District of Ohio in Akron.
Terms were not disclosed for the nonexclusive license.
Publicly traded Milacron, headquartered in Cincinnati, said the settlement will not have a material impact on its earnings or operating cash flow.
Graham Engineering is part of Graham Machinery Group, based in York, Pa.
A Graham official did not return a telephone call seeking comment.
During the past several years, Milacron has made a series of licensing deals in settlements over patents it holds for computer-based machine controls - mostly covering injection molding presses.
In 2001, Milacron announced a settlement on blow molding machines using computer-based controls with SIG Group, headquartered in Neuhausen, Switzerland.