Neo Performance Materials Inc. (NOPMF.PK), Friday announced that its subsidiaries, Neo Chemicals & Oxides Ltd., NPM Silmet OÜ and NPM C&O Europe OÜ, have entered into a settlement agreement with Rhodia Opérations S.A.S to resolve the outstanding litigation related to certain European Patents.
As per the agreement, Neo will pay 7.1 million euros to Rhodia in the first quarter of 2026.
Additionally, all the parties have agreed to a mutual release of claims and to withdraw outstanding court proceedings related to these patents.
The company noted that it does not expects the settlement to limit its ongoing sales of its current automotive catalyst products or materially affect its earnings.
Currently, Neo's stock is trading at $11.51, up 1.86 percent on the OTC Markets.
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