Poly-Pacific, U.S. Technology Corp. Settle Suit

Plastics companies settle suit.

Poly-Pacific International Inc. announced that a no-fault settlement agreement has been signed between itself and U.S. Technology Corporation, a competitor in the plastic blasting media industry. The settlement agreement results in cessation of litigation by both companies and ends two suits commenced by USTC against Poly-Pacific in Ohio, and a suit commenced by Poly-Pacific against USTC in Alberta.

"We are extremely pleased with the signing of this settlement agreement because it means we can concentrate our efforts on business development to the benefit of our shareholders", said Thomas Lam, president of Poly-Pacific.