Solvay Group's Cytec Industries Inc. has reached a settlement with China's Sunshow Specialty Chemical (Yantai) over the infringement of its patented product Cyasorb Cynergy Solutions V703 for UV stabilisation of thermoplastic olefins in automotive applications.
In an April 3 news release, Solvay said Sunshow agreed to compensate Cytec for infringement of its patent in China, putting an end to the infringement litigation in the Shenzhen Intermediate People's Court.
“We are pleased to have successfully resolved this litigation,” said Domenico Romanino, senior vice president of Additive Technologies for Solvay Technology Solutions.
“While the exact terms of the settlement agreement with Sunshow are not expected to have a material impact on Solvay's financial results for 2017, this outcome represents a milestone in our IP enforcement program and fully supports our convictions in asserting our patent,” Romanino added.