Stemco, an EnPro Industries company (NYSE: NPO), and Ridge Corporation have entered into a Settlement and Patent License Agreement, bringing an end to the litigation between Advanced Transit Dynamics, Inc. (now Stemco) and Ridge in the United States District Court for the Central District of California.
Accordingly, Stemco and Ridge have asked the Court to dismiss all claims and counterclaims in the litigation.
Ridge is now licensed to use the Stemco patents and will immediately resume its manufacture and sales of GreenTail devices. Stemco’s manufacture and sale of TrailerTail aerodynamic device technology will continue uninterrupted. The terms of the settlement are confidential.