ROMER and FARO Announce Settlement of All Outstanding Lawsuits
March 26 2007 - 4:15PM
PR Newswire (US)
NORTH KINGSTOWN, R.I. and LAKE MARY, Fla., March 26 /PRNewswire/ --
ROMER, Inc. a Hexagon Metrology company, and FARO Technologies,
Inc. (NASDAQ:FARO) have announced today that they have reached
agreement to settle all outstanding disputes between them. Under
the terms of the settlement, patent suits pending in California and
Florida, and a lawsuit involving claims of false advertising will
be dismissed. Terms of the agreement will not be disclosed, and
will be treated as "Company Confidential" material going forward by
both Hexagon and FARO. The settlement also covers ROMER-affiliated
companies CimCore Corporation, Hexagon Metrology AB and Hexagon
Metrology, Inc. Hexagon Metrology's Chief Executive Officer William
Gruber said, "We are very pleased that these lawsuits have now
ended, so that we can again focus exclusively on doing what we do
best-making state of the art metrology products and competing with
each other in the marketplace and not in the courtroom." FARO's
Chief Executive Officer Jay Freeland stated, "I couldn't agree
more. FARO too is glad to put these distractions behind us and
focus on our business. Instead of spending money on litigation, we
would rather direct these funds toward customer support, research,
and innovative new products." Freeland added "In the future,
Management for both companies have agreed to attempt to resolve our
differences before heading to a courtroom." About ROMER Inc. ROMER
Inc., a Hexagon Metrology company, markets and manufactures high
accuracy 3D coordinate measurement systems for the industrial
marketplace. The company develops innovative and dependable
portable metrology solutions for aerospace, automotive, heavy
machinery, and general engineering industries. ROMER Inc. is a
California corporation with sales headquarters located at the
Hexagon Metrology Precision Center in Wixom, Michigan. Hexagon
Metrology serves the high precision measurement and inspection
needs of worldwide manufacturers with its extensive line of
metrology hardware, software, accessories, and value-added
services. The company's name- brand portfolio of quality assurance
products include Brown & Sharpe, Leica Geosystems, ROMER,
Sheffield, PC-DMIS, DEA, Leitz, and TESA. Hexagon Metrology has an
unrivaled worldwide installed base of handheld, stationary and
portable measurement devices, including 30,000 seats of PC-DMIS
metrology software. Worldwide support is delivered by more than 55
direct sales and service centers. The company is a subsidiary of
Hexagon Measurement Technologies, a business unit of Hexagon AB
(Nacka Strand, Sweden), a publicly-traded global technology group
(Stockholmsborsen: HEXA B). The Hexagon group consists of nearly
8,200 employees located in 30 countries. About FARO Technologies,
Inc. With approximately 13,000 installations and 6,100 customers
globally, FARO Technologies, Inc. designs, develops, and markets
portable, computerized measurement devices and software used to
create digital models - or to perform evaluations against an
existing model - for anything requiring highly detailed 3-D
measurements, including part and assembly inspection, factory
planning and asset documentation, as well as specialized
applications ranging from surveying, recreating accident sites and
crime scenes to digitally preserving historical sites. FARO's
technology increases productivity by dramatically reducing the
amount of on-site measuring time, and the various industry-specific
software packages enable users to process and present their results
quickly and more effectively. Principal products include the
world's best-selling portable measurement arm - the FaroArm; the
world's best-selling laser tracker - the FARO Laser Tracker X and
Xi; the FARO Laser ScanArm; FARO Laser Scanner LS; the FARO Gage,
Gage-PLUS and PowerGAGE; and the CAM2 family of advanced CAD-based
measurement and reporting software. FARO Technologies is ISO-9001
certified and ISO-17025 laboratory registered. DATASOURCE: FARO
Technologies, Inc. CONTACT: Bill Fetter of Hexagon Metrology, Inc.,
+1-920-906-7514; or Darin Sahler of FARO Technologies, Inc.,
+1-407-333-9911 Web site: http://www.faro.com/
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