Advanced Steel Recovery (ASR) and FASTek of Fontana, Calif., have announced a lawsuit settlement that will result in an alliance with Sierra International Machinery of Bakersfield, Calif.
A news release jointly issued by ASR and FASTek says they are “pleased to announce that they have settled the patent infringement lawsuit brought by FASTek against Sierra International Machinery in the U.S. District Court for the Southern District of California arising from Sierra International Machinery's purchase and use of the Steco Scrapper Container Loader.”
The release continues, “As a part of the settlement, Sierra International Machinery acknowledges that the Steco Scrapper Container Loader infringes FASTek and Advanced Steel Recovery’s patents and that those patents are valid and enforceable. Sierra International Machinery further agrees to permanently cease using the Steco Scrapper Container Loader.”
Beyond reaching a settlement, the companies will now also work together to market the FASTek system, according to the press release. “Sierra International Machinery will immediately begin using FASTek’s patented container loading system in its own scrap operations and begin marketing FASTek’s patented container loading system both domestically and internationally,” the release states.
“We look forward to the opportunity to partner with Sierra International Machinery and to offer FASTek’s patented technology to Sierra International Machinery’s customer network,” says Nathan Frankel, CEO of ASR and manager of its FASTek subsidiary.
Sierra president John Sacco comments, “We are very pleased to have resolved the pending lawsuit with FASTek and to begin a new chapter with Advanced Steel Recovery and FASTek. Nathan Frankel has demonstrated true innovation in developing FASTek’s patented container loading system. We are excited to work with Advanced Steel Recovery and FASTek in marketing FASTek’s cutting-edge technology to our own customers.”
ASR collects, processes and ships containerized scrap metal globally. Its FASTek subsidiary produces equipment designed to allow scrap recyclers to load containers quickly and efficiently.
Sierra International Machinery sells, supports and maintains several lines of scrap processing equipment.
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