Attached files
| file | filename |
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| 8-K - FORM 8-K - CALGON CARBON Corp | l41506e8vk.htm |
Exhibit 99.1
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News Release Contact: Gail A. Gerono 412.787.6795 www.calgoncarbon.com |
CALGON CARBON SETTLES LAWSUIT WITH
FOR YOUR EASE ONLY, INC.
FOR YOUR EASE ONLY, INC.
PITTSBURGH, PA — January 5, 2011 — Calgon Carbon Corporation (NYSE: CCC) announced today
that it has reached a settlement agreement with For Your Ease Only, Inc. (FYEO). Under terms of
the agreement, Calgon Carbon will pay FYEO
$4.3 million in exchange for FYEO withdrawing its lawsuit seeking a declaration from the U.S.
District Court for the Northern District of Illinois that FYEO did not infringe Calgon Carbon’s
patent covering anti-tarnish jewelry boxes, and claiming that Calgon Carbon tortuously interfered
with the relationship between FYEO and its retailer. FYEO will also dismiss its appeal pending in
the Seventh Circuit Court of Appeals in a related case and will release any other claims.
Calgon Carbon and FYEO have been competitors in the sale of jewelry boxes through a common
retailer. The company is exiting that business effective immediately and will no longer produce
its PreZerve® product line which accounted for less than
$2.0 million of Calgon Carbon’s 2009 total sales. The company will, however, continue to produce
and market its activated carbon cloth for other applications.
Calgon Carbon had previously accrued $1.0 million for the FYEO suit. In December 2010, the company
agreed to pay ADA-ES, Inc. $7.2 million to resolve another legal matter for which Calgon Carbon had
previously accrued $12.0 million.
Commenting on the settlement with FYEO, John S. Stanik, chairman, president and chief executive
officer of Calgon Carbon, said, “We have been trying to resolve this matter for nearly ten years,
and we are glad to put it behind us. The settlement agreement is consistent with our initiative to
address outstanding legal and environmental contingency matters.”
Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in
services and solutions for making water and air safer and cleaner.
For more information about Calgon Carbon’s leading activated carbon and ultraviolet technology
solutions for municipalities and industries, visit www.calgoncarbon.com.
This news release contains historical information and forward-looking statements. Forward-looking statements typically contain words such as “expect,” “believe,” “estimate,” “anticipate,” or
similar words indicating that future outcomes are uncertain. Statements looking forward in time,
including statements regarding future growth and profitability, price increases, cost savings,
broader product lines, enhanced competitive posture and acquisitions, are included in the company’s
most recent Annual Report pursuant to the “safe harbor” provision of the Private Securities
Litigation Reform Act of 1995. They involve known and unknown risks and uncertainties that may
cause the company’s actual results in future periods to be materially different from any future
performance suggested herein. Further, the company operates in an industry sector where securities
values may be volatile and may be influenced by economic and other factors beyond the company’s
control. Some of the factors that could affect future performance of the company are higher energy
and raw material costs, costs of imports and related tariffs, labor relations, capital and
environmental requirements, changes in foreign currency exchange rates, borrowing restrictions,
validity of patents and other intellectual property, and pension costs. In the context of the
forward-looking information provided in this news release, please refer to the discussions of risk
factors and other information detailed in, as well as the other information contained in the
company’s most recent Annual Report.
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