General Announcement

Reference No CC-150213-64943

Company Name

:

IRE-TEX CORPORATION BERHAD

Stock Name

:

IRETEX

Date Announced

:

13/02/2015

 
MATERIAL LITIGATION CLAIM MADE BY AIRDEX INTERNATIONAL INC. AGAINST SUZHOU STYROTEX PLASTIC CO. LTD, A WHOLLY OWNED SUBSIDIARY COMPANY OF IRE-TEX CORPORATION BERHAD


IRE-TEX CORPORATION BERHAD
 

Type

:

Announcement
 
Subject

:

MATERIAL LITIGATION
 
Description

:

CLAIM MADE BY AIRDEX INTERNATIONAL INC. AGAINST SUZHOU STYROTEX PLASTIC CO. LTD, A WHOLLY OWNED SUBSIDIARY COMPANY OF IRE-TEX CORPORATION BERHAD
 
 

Ire-Tex Corporation Berhad (“ITCB” or “the Company”) wishes to announce that it has been informed on 13 February 2015 by Suzhou Styrotex Plastic Co. Ltd. (“SSPC”), a wholly owned subsidiary company of ITCB incorporated in the People’s Republic of China and operating in Suzhou, had received a summon in respect of a civil suit filed by Airdex International Inc. (“Airdex") alleging infringement by SSPC of Airdex’s patent in respect of its design for Airfreight Pallet. The suit seeks enforcement and damages against SSPC for the following:

1. Demand for SSPC to stop production on Airfreight Pallet

2. Demand for SSPC’s molds in respect of Airfreight Pallet to be destroyed

3. Damages amounting to RMB3 million (Renminbi Three Million)

4. Court fees to be borne by SSPC

Hearing for the suit has been fixed on 2 March 2015.

SSPC will seek legal advice on the aforesaid matter.

This announcement is dated 13 February 2015.