The Federal Court has found there was no infringement in a patent case lodged by drilling products company Imdex against Orange Grove-based Camteq.
The Federal Court has found there was no infringement in a patent case lodged by drilling products company Imdex against Orange Grove-based Camteq.
On July 2, 2007 Imdex lodged the action in the Federal Court against Camteq for patent infringement in relation to its core orientation tool.
The patent is held by Imdex subsidiary Australian Mud Company.
On Friday, the Federal Court ruled that while Imdex patent was valid, there was no infringement of the patent by Camteq.
"We are disappointed by the Federal Court's decision and believe that we have strong grounds on which to vigorously appeal it," said Imdex managing director Bernie Ridgeway.
"In the interim, I am confident that Imdex's global reach, technology, strong customer relationships and service will continue to provide a strong point of difference and enable us to maintain our market leading position in down hole instrumentation."
Australian Mud Company currently has another patent application for its core orientation device before the Australian Patent Office and internationally.
See company statement below:
Imdex Limited (ASX: IMD), a market leader in providing down hole instrumentation to the global mining industry, today announced that it would lodge an appeal against a Federal Court decision regarding one of its patented technologies.
On 2 July 2007, Imdex commenced Federal Court proceedings against Camteq (Coretell Pty Ltd & Mincrest Holdings Pty Ltd) for infringement of an Australian patent (No. 2006100113) held through one of its subsidiaries, Australian Mud Company, in relation to its core orientation tool.
On 29 October 2010, the Federal Court handed down its judgment in relation to these proceedings, finding that Imdex's patent was valid, but that there was no infringement of the patent in this case. Imdex has reviewed the judgment and will lodge an appeal.
Despite the adverse findings of the Federal Court, Australian Mud Company currently has another patent application for its core orientation device before the Australian Patent Office and internationally. A grant of this patent application will provide us with a greater level of protection in relation to its core orientation device.
Imdex Managing Director, Bernie Ridgeway said, "We are disappointed by the Federal
Court's decision and believe that we have strong grounds on which to vigorously appeal it.
In the interim, I am confident that Imdex's global reach, technology leadership, strong customer relationships and service will continue to provide a strong point of difference and enable us to maintain our market leading position in down hole instrumentation."
