3M Co. has settled its patent-infringement lawsuit against Saint-Gobain Abrasives Inc.
3M settles patent lawsuit against abrasives company over paint technology
The terms of the deal have not been disclosed.
3M announced the settlement on Monday but did not disclose terms of the deal.
The long-lasting dispute involved 3M's patented paint-preparation technology. 3M filed its patent-infringement complaints against Saint-Gobain in France and Germany and defended its patents before the European Patent Office. 3M accused Saint-Gobain's Norton Paint System (NPS) of violating 3M's patents.
In a statement, 3M officials said the settlement includes the "resolution of all disputes and a release of Saint-Gobain's NPS products under 3M's paint spray technology related patents."
3M, which is based in Maplewood, makes more than 55,000 products, generated $32.8 billion sales in 2018 and has 93,000 employees worldwide.
3M's stock price closed Monday at $176.78 a share, up 1.6%.
Saint-Gobain makes window, mortar, plasterboard and other building products and operates in 68 countries. It generates about $46 billion in sales annually and has 180,000 employees.
The party supply company told employees on Friday that it’s going out of business.