JPS Industries, Inc. Announces Positive Litigation Result
03 September 2008 - 12:50AM
PR Newswire (US)
GREENVILLE, S.C., Sept. 2 /PRNewswire-FirstCall/ -- Stevens(R)
Urethane, a business unit of JPS Industries, Inc., (JPST.PK)
announced today that a jury in Hampshire County, MA found that
Stevens(R) independently developed its process for making
Encapsolar(TM) and that neither Stevens(R) nor Jim Galica used
trade secrets of Specialized Technology Resources, Inc., as the
Connecticut-based company alleged. Charles R. Tutterow, President
of Stevens(R) Urethane and Executive Vice President and Chief
Financial Officer of JPS, stated, "We are pleased to have this
aspect of the matter resolved. This clearly vindicates Stevens(R),
and most importantly, Jim Galica personally and we look forward to
competing in the marketplace with our industry leading formulas,
products and on time deliveries." JPS Industries, Inc. is a major
U.S. manufacturer of extruded urethanes, ethylene vinyl acetates
and mechanically formed glass and aramid substrate materials for
specialty applications in a wide expanse of markets requiring
highly engineered components. JPS's products are used in a wide
range of applications including: printed electronic circuit boards;
advanced composite materials; civilian and military aerospace
components; filtration and insulation products; specialty
commercial construction substrates; high performance glass
laminates for security and transportation applications;
photovoltaic solar modules; paint protection films; plasma display
screens; medical, automotive and industrial components; and soft
body armor for civilian and military applications. Headquartered in
Greenville, South Carolina, the Company operates four manufacturing
locations in Anderson and Slater, South Carolina; Statesville,
North Carolina; and Easthampton, Massachusetts. CONTACT: Charles R.
Tutterow Executive Vice President and Chief Financial Officer
864/239-3915 DATASOURCE: JPS Industries, Inc. CONTACT: Charles R.
Tutterow, Executive Vice President and Chief Financial Officer, of
JPS Industries, Inc., +1-864-239-3915
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