December 15, 2010
Terex Corp. issued the following statement concerning a verdict in the patent infringement lawsuit brought against Powerscreen International Distribution Limited (Powerscreen) and Terex Corp. (Terex) by Metso Minerals Inc. (Metso Minerals) in the 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.”