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Neo Performance Materials Reaches Settlement in European Patent Litigation
Neo Performance Materials Reaches Settlement in European Patent Litigation Canada NewsWir...
About this update from Neo Performance Materials, Inc.
[{"type":"text","content":"\n\n\nNeo Performance Materials Reaches Settlement in European Patent Litigation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nTORONTO, Jan. 2, 2026 /CNW/ - Neo Performance Materials Inc. (\"Neo\" or the \"Company\") (TSX: NEO) (OTCQX:NOPMF) announced today that its wholly owned subsidiaries, Neo Chemicals & Oxides (Europe) Ltd., NPM Silmet OÜ and NPM C&O Europe OÜ, have entered into a settlement agreement with Rhodia Opérations S.A.S (\"Rhodia\", a wholly-owned subsidiary of the Solvay Group) to resolve the outstanding litigation related to certain European Patents.\n\n\n\n\n\n\n\nThe settlement relates to the German designation of the following European Patents:\nEP 0 735 984 B1EP 0 605 274 B1EP 0 863 846 B1EP 0 955 267 B1EP 1 527 018 B1EP 2 007 682 B1EP 2 523 907 B1EP 1 435 338 B1EP 3 009 403 B1 (the Estonian designation is also included)Under the terms of the agreement, Neo will make an aggregate cash payment of €7.1 million to be paid to Rhodia in the first quarter of 2026.  All parties have agreed to a mutual release of claims and to withdraw outstanding court proceedings related to these patents. \nAll of the patents subject to the settlement, other than EP '682, have expired. In addition, the settlement amount is not materially different from the amount previously accrued by Neo in its financial statements. As a result, Neo does not expect the settlement to limit the Company's ongoing sales of its current automotive catalyst products or materially affect its earnings.\nAbout Neo Performance Materials\nNeo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo's advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo's products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxide...