Thompson/Center Arms and Traditions Sporting Goods Settle Patent Infringement Dispute
Companies Sign Licensing Agreement Regarding Thompson/Center Arms Patents
SPRINGFIELD, Mass. (November 29, 2011) --- Thompson/Center Arms Company, Inc. (“TCA”), Traditions Sporting Goods, Inc. (“Traditions”), and Ardesa S.A. d/b/a Ardesa Firearms (“Ardesa”), announced today that they have reached an agreement to settle patent infringement complaints brought by TCA in the U.S. International Trade Commission (USITC) and U.S. federal court. Under the terms of the agreement, Traditions and Ardesa have agreed to a multi-year license agreement, allowing them to use certain TCA muzzleloader rifle technology. In exchange, TCA has agreed to dismiss all infringement claims asserted in the complaints. Further details and financial terms of the settlement are not being made available.
“We are always looking for ways to protect our innovative designs and technology, which are the cornerstones of our business, and key components of what our brands stand for in the eyes of the consumer,” said James Debney, President and CEO of Smith & Wesson Holding Corporation, TCA’s parent company. “We look forward to working with Traditions to bring the highest quality and most advanced muzzleloading rifles to the market.”
“Traditions and Ardesa join with TCA in looking forward to bringing the highest quality muzzleloading rifles to the market,” said Tom Hall, President of Traditions. “We are pleased that the companies were able to work together in a pragmatic way to amicably resolve this litigation. Traditions will continue to sell all products in its existing product line and intends to continue its ongoing efforts to innovate in the field of muzzleloading rifles to meet market demand.”
About Smith & WessonSmith & Wesson Holding Corporation (NASDAQ Global Select: SWHC) is a U.S.-based, global provider of products and services for safety, security, protection, and sport. The company delivers a broad portfolio of firearms and related training to the military, law enforcement, and sports markets. For more information on Smith & Wesson call (800) 331-0852 or log on to www.smith-wesson.com <http://www.smith-wesson.com>.
About Traditions & ArdesaTraditions Performance Firearms located in Old Saybrook, CT imports, distributes, and sells top quality muzzleloading firearms and accessories. Ardesa S.A., located in Vizcaya, Spain, manufactures top quality reproductions of famous flintlock and percussion rifles and pistols, 209 primed in-line ignition rifles, and a full line of accessories, that are imported by Traditions Performance Firearms. For more information on Traditions call 860-388-4656 or log on to traditionsfirearms.com http://www.traditionsfirearms.com. |
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