DMC Global Comments on DynaEnergetics Litigation
January 18 2023 - 6:50PM
DMC Global Inc. (Nasdaq: BOOM) today announced a jury in the
US District Court for the Southern District of Texas (Houston)
found that Hunting Titan, Inc. and Hunting Energy Services, Inc.
did not infringe DynaEnergetics’ U.S. Patent No. 10,429,161 ("the
‘161 Patent"). However, the jury upheld the validity of the ‘161
Patent.
DynaEnergetics is reviewing the ruling and is
considering all of its appellate options. While disappointed with
the ruling, management is pleased the jury agreed the patent is
valid, recognizing that the intellectual property associated with
DynaEnergetics’ DynaStage system represents a significant
advancement in well perforating technology.
“We have established a leadership position in
the global perforating industry based on technological innovation,
and we will remain focused on building and expanding our product
and intellectual property portfolios,” said Ian Grieves, president
of DynaEnergetics. “We also intend to take a vigilant and judicious
approach to protecting our IP going forward.”
About DynaEnergetics
DynaEnergetics, a business of DMC Global Inc., provides innovative
perforating systems that make a measurable impact on well
productivity, completion cost and safety. As the only global
perforating manufacturer that designs, manufactures and qualifies
all of its equipment and accessories in-house, DynaEnergetics
ensures unmatched performance and the lowest total cost of
operations. For more information, visit www.dynaenergetics.com.
About DMC Global Inc. DMC
Global operates three differentiated, asset-light
manufacturing businesses that serve niche segments of the building
products, energy, and industrial infrastructure
industries. DMC supports its companies with long-term
capital and strategic, financial, legal, technology and operating
resources, enabling them to grow their core businesses, launch new
initiatives, upgrade technologies and systems, and make
acquisitions that improve their competitive positions and expand
their markets. The DMC family of companies consists of
Arcadia, a leading supplier of architectural building products;
DynaEnergetics, which serves the global energy industry; and
NobelClad, which addresses the global industrial infrastructure and
transportation sectors. Based in Broomfield, Colorado, DMC
trades on Nasdaq under the symbol “BOOM.” For more
information, visit WWW.DMCGLOBAL.COM.
Safe Harbor Language This news
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including
statements regarding intellectual property and litigation matters.
Such statements and information are based on numerous assumptions
regarding factors including present and future business strategies,
the markets in which we operate, anticipated costs and ability to
achieve goals. Forward-looking information and statements are
subject to known and unknown risks, uncertainties and other
important factors that may cause actual results and performance to
be materially different from those expressed or implied by such
forward-looking information and statements, including but not
limited to the risks detailed from time to time in our SEC reports,
including the annual report on Form 10-K for the year ended
December 31, 2021, all of which are incorporated by reference
herein. We do not undertake any obligation to release public
revisions to any forward-looking statement, including, without
limitation, to reflect events or circumstances after the date of
this news release, or to reflect the occurrence of unanticipated
events, except as may be required under applicable securities
laws.
CONTACT: Ian Grieves President
DynaEnergetics +49.2241.1236.770 ian.grieves@dynaenergetics.com
INVESTOR CONTACT: Geoff High
Vice President of Investor Relations 303-604-3924
MEDIA CONTACT: Dan Gagnier or
Riyaz Lalani Gagnier Communications 646-342-8087
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