Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Metso Corporation’s stock exchange release on May 15, 2013 at 3:35 p.m. local time
The United States Court of Appeals for the Federal Circuit has given an unfavorable decision to Metso holding Metso’s patent invalid with respect to the issues subject to the lawsuit Metso has carried out against Powerscreen International Distribution Ltd (today known as Terex GB Ltd), Terex Corporation, Emerald Equipment Systems, Inc. et al. The case involves the Metso’s lateral folding conveyor patent rights related to mobile crushing and screening plants. The Court of Appeals has reversed the favorable decisions to Metso given earlier by the United States District Court for the Eastern District of New York in the case (see Metso’s stock exchange releases December 7, 2010 and December 12, 2011).
Metso will seek reversal of this Court of Appeals’ decision by motions and, as necessary, by further appeal. The final outcome of the lawsuit would be expected within 2014.
Metso has not booked any compensation in its financial results based on the earlier decisions related to this case; and will do so, if any, only when the final outcome of the lawsuit is clear, earliest in 2014.
Metso’s mining and construction professionals specialize in always bringing the right technology, processes, machinery and services to our customers in the aggregates production, construction, mining and minerals processing and in metal and waste recycling. Expect results.
www.metso.com/miningandconstruction
