WESTPORT, Conn., Dec 07, 2010 (BUSINESS WIRE) --
Terex Corporation (NYSE: TEX) today issued the following statement
concerning a verdict in the patent infringement lawsuit brought against
Powerscreen International Distribution Limited ("Powerscreen") and Terex
Corporation ("Terex") by Metso Minerals Inc. ("Metso Minerals") in
United States District Court for the Eastern District of New York.
"Terex and Powerscreen are disappointed by the adverse jury verdict
Monday in the lawsuit brought by Metso Minerals against Powerscreen and
Terex. The lawsuit involved the claim by Metso Minerals that the folding
side conveyor of Powerscreen screening plants violates a patent held by
Metso in the United States. We do not agree that the accused Powerscreen
mobile screening plants or their folding conveyor infringe the subject
patent held by Metso Minerals. These types of patent cases are very
complex and we strongly believe that verdict is contrary to both the law
and the facts. Accordingly, Terex and Powerscreen will be appealing the
verdict and believe that we will ultimately prevail on appeal.
"It is important to note that this verdict only relates to certain
models of Powerscreen mobile screening plants with the alleged
infringing folding side conveyor design sold in the United States. Year
to date through the end of October revenues from sales in the United
States for 2010 of the Powerscreen mobile screening plants alleged to
infringe the Metso Minerals patent were approximately $10.4 million. The
verdict does not affect the continued use of any Powerscreen mobile
screening plants currently in operation in the United States, the sales
of any Powerscreen mobile screening plants outside of the United States,
or the sale of any other screening plants sold by Powerscreen in the
United States or elsewhere. The verdict does not affect the sale of any
other products manufactured by Terex or any of its subsidiaries.
Accordingly, Terex does not expect this verdict will have a material
impact on Terex's consolidated business or overall operating results."
Terex Corporation is a diversified global manufacturer operating in four
business segments: Aerial Work Platforms, Construction, Cranes, and
Materials Processing. Terex manufactures a broad range of equipment for
use in various industries, including the construction, infrastructure,
quarrying, mining, shipping, transportation, refining, energy and
utility industries. Terex offers a complete line of financial products
and services to assist in the acquisition of Terex equipment through
Terex Financial Services. Terex uses its website to make information
available to its investors and the market at www.terex.com.
SOURCE: Terex Corporation
Terex Corporation
Mike Bazinet, 203-222-6113
michael.bazinet@terex.com
Director, Corporate Communications
or
Tom Gelston, 203-222-5943
thomas.gelston@terex.com
Vice President, Investor Relations