Horizon Global Receives Full Payment for License Following Patent Dispute over Electronic Brake Controllers
December 20 2017 - 4:05PM
Business Wire
Horizon Global Corporation (NYSE: HZN), one of the world’s
leading manufacturers of branded towing and trailering equipment,
today released the following announcement:
Horizon Global Americas Inc., a subsidiary of Horizon Global
Corporation (NYSE: HZN), and Hopkins Manufacturing Corporation
mutually announce that after productive negotiating sessions, they
have agreed to amicably resolve their four year old dispute over
patent rights to their electronic brake controllers. Under the
agreement, Hopkins will pay Horizon for a fully paid license on the
patented brake controllers that were the subject of the lawsuit.
The parties will execute mutual releases with the specific terms
remaining confidential.
Horizon Global is the holder of well more than one thousand
patents/applications across its industry-leading portfolio of
towing and trailering brands. The Company is focused on delivering
innovation and performance solutions to its customers and global
consumers and will continue to pursue available means to protect
its intellectual property.
About Horizon Global
Horizon Global is the #1 designer, manufacturer and distributor
of a wide variety of high-quality, custom-engineered towing,
trailering, cargo management and other related accessory products
in North America, Australia and Europe. The Company serves OEMs,
retailers, dealer networks and the end consumer as the category
leader in the automotive, leisure and agricultural market segments.
Horizon provides its customers with outstanding products and
services that reflect the Company's commitment to market
leadership, innovation and operational excellence. The Company’s
mission is to utilize forward-thinking technology to develop and
deliver best-in-class products for our customers, engage with our
employees and realize value creation for our shareholders.
Horizon Global is home to some of the world’s most recognized
brands in the towing and trailering industry, including: BULLDOG,
Draw-Tite, Fulton, Hayman Reese, Reese, ROLA, Tekonsha, and
Westfalia. Horizon Global has approximately 4600 employees in 67
facilities across 21 countries.
For more information, please visit www.horizonglobal.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171220006061/en/
Horizon Global CorporationChristi CowdinDirector of Corporate
Communications and Investor Relations(248)
593-8810ccowdin@horizonglobal.com
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