P&G, Kraft Settle Coffee Container Suit; Terms Undisclosed
16 Janvier 2009 - 3:27PM
Dow Jones News
DOW JONES NEWSWIRES
Procter & Gamble Co. (PG) reached a settlement in its
17-month suit with Kraft Foods Inc. (KFT) over patents to plastic
packaging for Folgers roast and ground coffee, though the details
and financial terms weren't provided.
Consumer products giant P&G sued Kraft in federal court in
August 2007, alleging new packaging for Kraft's Maxwell House
coffee infringed patents on P&G's Folgers containers. The
lawsuit alleged Kraft's four-pound plastic container infringed
P&G's patent on a package Folgers introduced in 2003.
P&G, which was seeking undisclosed damages, said when the
suit was filed that the package helped grow Folgers, as plastic
containers are preferred by consumers. The lawsuit also sought to
stop Kraft from selling the Maxwell House package.
P&G Chief Legal Officer Steve Jemison said Friday the
company "was delighted with the terms of this settlement," adding
P&G "will not hesitate to do what it takes to continue to
protect our intellectual property."
Separately, Kraft General Counsel Marc Firestone said the
company was "pleased to settle this matter with P&G in such an
efficient and pragmatic way."
P&G in November completed the sale of its Folgers Coffee
business to J.M. Smucker Co. (SJM).
Kraft shares rose 1.9% premarket to $28.60, while P&G edged
up 0.6% to $57.80.
-By Shirleen Dorman, Dow Jones Newswires; 201-938-2310;
shirleen.dorman@dowjones.com
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