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FINANCIAL NEWS
UAE’s Nova to pay Dow Chemical USD61.7m upon court verdict
25 Jan 2012
(MENAFN) The US Court of Appeals for the Federal Circuit in Washington ruled for the interest of Dow Chemical against an appeal filed by Abu-Dhabi based Nova Chemicals, imposing a USD61.7 million payment to be made to Dow Chemicals, reported Bloomberg.
The ruling is in regard to the patent-infringement case filed against Nova back in 2010 regarding using Dow’s inventions for polymers that are thinner and stronger than conventional plastic which is used in manufacturing grocery bags.
In addition, Dow is claiming further damages and demanding a block in the usage of its patents in Canada.
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