Solutia Inc., Jiangsu Sinorgchem Technology Co., Ltd., and Korea Kumho Petrochemical Co., Ltd. have reached a global settlement to resolve all disputes among them involving Solutia’s patents for processes to produce 4-ADPA, a chemical intermediate used to make rubber antidegradants.
Under the terms of the settlement, Solutia grants Sinorgchem and KKPC licenses to manufacture 4-ADPA under Solutia’s patents, which do not expire until 2019. As licensees, Sinorgchem and KKPC are also granted certain rights to enforce those patents. Financial terms of the settlement were not disclosed.
“The settlement of these long-standing disputes is a milestone for Solutia and its Santoflex antidegradant business,” said Mr. Rich Altice, president and general manager of Solutia’s Technical Specialties division. “We remain committed to using our innovative chemistry to provide value to our customers and shareholders, as well as to protecting our intellectual property rights.”
Mr. Stephen Choi, Chief Executive Officer of Sinorgchem, commented, “We are happy this issue is resolved and the dispute is behind us. As a leading rubber additives producer, we will continue to use technology to provide our customers with greener chemicals.”
Mr. Sung-Kyu Lim, Senior Executive Vice President of KKPC’s Sales Division, added, “We are pleased these proceedings are over and express our appreciation to all of our customers for their patience and support during the proceedings. With a focus on our core values of passion, innovation, collaboration and responsibility, we will continue to take the initiative in providing world-class products and services to our customers.”
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