The settlement resolves litigation over supply and technology agreements between DuPont's performance polymers business and Invista's intermediates business dating back to Invista's separation from DuPont and sale to subsidiaries of Koch Industries in 2004. The settlement clarifies the respective rights and obligations of the companies, both parties said.
On August 18, 2008, Invista sued Rhodia and DuPont, who were allegedly teaming up to misappropriate Invista's ADN technology and unlawfully using trade secrets.
Invista bought the original ADN technology several years ago from DuPont as part of a $4.2 billion transaction. When it sold the technology to Invista, DuPont signed an agreement prohibiting it from competing against Invista or making investments in competitors for an agreed-upon period, which had yet to expire, Invista said earlier.
The lawsuit sought preliminary and permanent injunctive relief and asserted claims for damages for violations of various sections of the Lanham Act, misappropriation and misuse of trade secrets, breach of various contracts between DuPont and Invista, conversion, tortious interference with contracts and conspiracy.
Founded in 1802, DuPont operates in more than 90 countries and offers products and services for the agriculture and food; building and construction; communications and transportation industries.
Invista is a global, integrated producers of polymers and fibers, primarily for nylon, spandex and polyester applications.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
