Cabot Microelectronics Announces Favorable Resolution of ITC Action Against Cheil Industries, Inc.
June 26 2006 - 7:30AM
Business Wire
Cabot Microelectronics Corporation (Nasdaq:CCMP) announced today
the favorable resolution of the complaint it filed with the U.S.
International Trade Commission ("ITC") concerning Cheil Industries,
Inc. on March 28, 2006. The complaint identified violations of
section 337 of the Tariff Act of 1930, including the importation
and sale within the United States of certain chemical mechanical
planarization ("CMP") slurries that infringe patents owned by Cabot
Microelectronics, requested that the ITC issue permanent exclusion
and cease and desist orders, and resulted in the ITC's
investigation of the matter (337-TA-566). The ITC's action on June
23, 2006 grants these requests through the entry of a Consent Order
and related Stipulation, resulting in the termination of the
investigation, and, among other things, further bars Cheil from
challenging the validity of the patent claims at issue in any
proceeding to enforce the Consent Order. "We are pleased at the
expeditious and successful resolution of this matter before the
ITC, which supports Cabot Microelectronics' significant investment
in patent-protected research and development, and allows us to
continue to anticipate and meet our customers' requirements for
maintaining technology leadership," stated H. Carol Bernstein,
Cabot Microelectronics' Vice President, Secretary and General
Counsel. "As stated in the ITC's Consent Order granting our
requests, 'the public interest ... favors the recognition of
presumptively valid patents and their exclusive rights,' and in
addition to the positive result for our business, we support the
public policy that is served by the investigation and resolution of
matters such as these." About Cabot Microelectronics Cabot
Microelectronics Corporation, headquartered in Aurora, Illinois, is
the world's leading supplier of CMP slurries used in semiconductor
and data storage manufacturing. Since becoming an independent
public company in 2000, the company has grown to approximately 650
employees who work at research and development labs, sales and
business offices, manufacturing facilities and customer service
centers in China, France, Germany, Japan, Singapore, South Korea,
Taiwan, the United Kingdom and the United States. The company's
products play a critical role in the production of the most
advanced semiconductor devices, enabling the manufacture of
smaller, faster and more complex devices by its customers. In
addition to its core CMP business, the company's vision looks
beyond the semiconductor industry to become the world leader in
shaping, enabling and enhancing the performance of surfaces. For
more information about Cabot Microelectronics Corporation, visit
www.cabotcmp.com or contact Barbara Ven Horst, Director of Investor
Relations at (630) 375-5412. Safe Harbor Statement: This news
release may include statements that constitute "forward-looking
statements" within the meaning of federal securities regulations.
These forward-looking statements include statements related to
future sales and operating results, company and industry growth and
trends, growth of this market, international events, product
performance, the generation and protection of intellectual
property, new product introductions and development of new products
and technologies by Cabot Microelectronics. These forward-looking
statements involve a number of risks, uncertainties, and other
factors, including those described from time to time in Cabot
Microelectronics' filings with the Securities and Exchange
Commission (SEC), that could cause the actual results to differ
materially from those described by these forward-looking
statements. In particular, see "Risks Relating to Our Business" in
Management's Discussion and Analysis in our quarterly report on
Form 10-Q for the quarter ended March 31, 2006, and our Annual
Report on Form 10-K for the fiscal year ended September 30, 2005,
both filed with the SEC. Cabot Microelectronics Corporation assumes
no obligation to update this forward-looking information.
CMC Materials (NASDAQ:CCMP)
Historical Stock Chart
From Jun 2024 to Jul 2024
CMC Materials (NASDAQ:CCMP)
Historical Stock Chart
From Jul 2023 to Jul 2024