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PRESSTEK, HEIDELBERG SETTLE ARBITRATION

Jul 17, 2001 12:00 AM


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Presstek, Inc. (Hudson, NH) and Heidelberger Druckmaschinen AG (Heidelberg, Germany) have settled their outstanding arbitration related to issues of their non-exclusive cooperation in the future, intellectual property rights, patent ownership, license terms and conditions, and related matters. Specific details of the agreement were not disclosed.

"Presstek share a long and important partnership with Heidelberg on direct imaging, so we are happy to have resolved these issues," says Robert Hallman, Presstek president and CEO. "We are now able to focus on the future, and look for Heidelberg to be a key partner going forward."

"Heidelberg and Presstek have amicably resolved the issues and newly defined their business relationship," notes Gotthard Schmid, Heidelberg’ head of product center direct imaging. "This will have a positive impact on Heidelberg’s Quickmaster 46-DI business, also to the benefit of Heidelberg’ customers."