Stanelco PLC
09 February 2006
9th January 2006
STANELCO PLC ('STANELCO')
STANELCO AND BIOPROGRESS SETTLE PATENT DISPUTE
Stanelco plc, the radio frequency applications group, and BioProgress plc, are
pleased to announce that they have reached a settlement of the legal dispute
between two of their subsidiaries.
Stanelco RF Technologies Limited and BioProgress Technology Limited were
disputing entitlement to three families of patents relating to the making of
water-soluble capsules sealed using radio frequency.
Under the main terms of settlement, both parties will be able to commercially
exploit all three patent families. Stanelco plc have agreed to issue to
BioProgress new ordinary 0.1p shares and or cash up to a maximum market value of
£1,000,000.
Commenting on the settlement, Ian Balchin, Executive Vice Chairman, Stanelco
plc, said: 'We are pleased to have resolved this long running dispute with
BioProgress. This is a pragmatic solution for both parties and enables us to
concentrate on our respective businesses'.
- ENDS -
For further information, please contact:
Ian Balchin, Executive Vice Chairman, Stanelco plc Tel: +44 (0)2380 867 100
Jonathon Brill/Billy Clegg Financial Dynamics Tel: +44 (0)20 7831 3113
ABOUT STANELCO PLC
The Stanelco Group of companies (the Group) has brought together expertise in
radio frequency (RF) technology, RF applications and biodegradable material
sciences to create a revolutionary range of packaging technologies.
Stanelco's philosophy is that new products and processes must offer solutions
and applications which:
* give higher added value,
* are greener, more environmentally sustainable than those they replace and
* have protectable intellectual property rights.
Stanelco will develop the products and processes to a demonstration stage and
then work with partners in order to reach the markets; and under these
circumstances Stanelco will usually seek to license its technology. Stanelco
invests considerable time and resources in ensuring its technologies are
protected via layers of patents wherever possible. In this way Stanelco believes
it can minimise commercial risk and preserve the highest value for shareholders.
The products offering the prospect of near term revenue generation are being
given priority over the Group's resources.
Stanelco was founded in 1953 and is a world leader in the development of radio
frequency technologies for processing polymers for edible and packaging
applications and the design and manufacture of optical fibre technology,
induction heating and dielectric welding equipment. Stanelco's current
developments include GREENSEAL Food tray lidding technology, STARPOL (starch /
pva blended material), STARPOL 2000 (highly functional, low cost biodegradable
packaging material with food contact approvals) FrogPack high impact low cost
packaging format, CradleWrap range of biodegradable air cushion packaging,
Soluble tape, 100% water-soluble films and adhesives, Biodegradable Airbag (void
fill) packaging, edible hard-shell capsule technology, water-soluble detergent
capsules, edible sachets and waste packing.
GREENSEAL, STARPOL, FrogPack and CradleWrap are all trademarks of the Stanelco
plc group.
This information is provided by RNS
The company news service from the London Stock Exchange
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