CONCORD, Mass., Dec. 17 /PRNewswire/ -- Starmet Corporation
(Nasdaq: STMT), a Concord, Massachusetts manufacturer of advanced technology
metallurgical products, today announced that Brush Wellman, Inc., has
instituted suit against the Company in the United States District Court for
the District of Massachusetts (Case No. 97-12705-RCO) alleging that investment
casting of beryllium aluminum alloys by the Company and its subsidiaries
infringes Brush Wellman, Inc., U.S. Patent No. 5,642,773.
Starmet Comcast and Starmet Aerocast, wholly-owned subsidiaries of Starmet
Corporation, manufacture advanced metal products for government, aerospace and
commercial applications using Starmet's patented Beralcast(R) alloy and
related patented and proprietary technology. Starmet's products are produced
by a variety of techniques, including investment and permanent mold casting
techniques. Starmet believes that its patented Beralcast technology results
in products having metallurgical characteristics superior to those produced by
any competing process known to the Company. These characteristics allow
Starmet's high technology customers to enhance significantly the performance
of their products.
Patent counsel have advised management that the claims set forth in the
Brush Wellman, Inc. complaint are without merit, that the Brush Wellman patent
is invalid and, therefore, that it is not infringed by the Company.
The answer to the complaint is due December 30, 1997, twenty (20) days
after service of the complaint upon the Company. The Company intends to file
an answer challenging the validity of the Brush Wellman, Inc. patent, denying
any infringement by the activities of the Company and asserting counterclaims
against Brush Wellman, Inc. The Company does not anticipate that this
litigation will have a material impact upon the operation or financial
condition of the Company.
NOTE: Statements contained herein that are not statements of historical
fact are 'forward-looking statements. Forward-looking statements include,
without limitation, statements concerning the Company's and its competitors'
technologies and the Company's view that its right to use its own patented
technology will be fully substantiated and that the Brush Wellman suit will
not adversely impact the Company.
Such forward-looking statements are based on a number of assumptions and
involve a number of risks and uncertainties, including uncertainties which are
commonly present in any litigation, such as the availability of injunctive and
other equitable relief in the discretion of a court. Accordingly, actual
results could differ materially from those projected in the forward-looking
statements. Additional factors that may cause such differences include, but
are not limited to, those factors described in Exhibit 99 to the Company's
quarterly report on Form 1O-Q for the fiscal quarter ended March 31, 1997.
SOURCE Starmet Corporation
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Related links:
http://www.starmet.com
CONTACT:
Robert E. Quinn, President of Starmet
Corporation, 978-369-5410
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
632850
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