Action Against Cheil Industries, Inc.
AURORA, Ill.--(BUSINESS WIRE)--June 26, 2006
Cabot Microelectronics Corporation (Nasdaq:CCMP)
announced today the favorable resolution of the complaint it filed
with the U.S. International Trade Commission ("ITC") concerning Cheil
Industries, Inc. on March 28, 2006. The complaint identified
violations of section 337 of the Tariff Act of 1930, including the
importation and sale within the United States of certain chemical
mechanical planarization ("CMP") slurries that infringe patents owned
by Cabot Microelectronics, requested that the ITC issue permanent
exclusion and cease and desist orders, and resulted in the ITC's
investigation of the matter (337-TA-566).
The ITC's action on June 23, 2006 grants these requests through
the entry of a Consent Order and related Stipulation, resulting in the
termination of the investigation, and, among other things, further
bars Cheil from challenging the validity of the patent claims at issue
in any proceeding to enforce the Consent Order.
"We are pleased at the expeditious and successful resolution of
this matter before the ITC, which supports Cabot Microelectronics'
significant investment in patent-protected research and development,
and allows us to continue to anticipate and meet our customers'
requirements for maintaining technology leadership," stated H. Carol
Bernstein, Cabot Microelectronics' Vice President, Secretary and
General Counsel. "As stated in the ITC's Consent Order granting our
requests, 'the public interest ... favors the recognition of
presumptively valid patents and their exclusive rights,' and in
addition to the positive result for our business, we support the
public policy that is served by the investigation and resolution of
matters such as these."
About Cabot Microelectronics
Cabot Microelectronics Corporation, headquartered in Aurora,
Illinois, is the world's leading supplier of CMP slurries used in
semiconductor and data storage manufacturing. Since becoming an
independent public company in 2000, the company has grown to
approximately 650 employees who work at research and development labs,
sales and business offices, manufacturing facilities and customer
service centers in China, France, Germany, Japan, Singapore, South
Korea, Taiwan, the United Kingdom and the United States. The company's
products play a critical role in the production of the most advanced
semiconductor devices, enabling the manufacture of smaller, faster and
more complex devices by its customers. In addition to its core CMP
business, the company's vision looks beyond the semiconductor industry
to become the world leader in shaping, enabling and enhancing the
performance of surfaces. For more information about Cabot
Microelectronics Corporation, visit www.cabotcmp.com or contact
Barbara Ven Horst, Director of Investor Relations at (630) 375-5412.
Safe Harbor Statement: This news release may include statements
that constitute "forward-looking statements" within the meaning of
federal securities regulations. These forward-looking statements
include statements related to future sales and operating results,
company and industry growth and trends, growth of this market,
international events, product performance, the generation and
protection of intellectual property, new product introductions and
development of new products and technologies by Cabot
Microelectronics. These forward-looking statements involve a number of
risks, uncertainties, and other factors, including those described
from time to time in Cabot Microelectronics' filings with the
Securities and Exchange Commission (SEC), that could cause the actual
results to differ materially from those described by these
forward-looking statements. In particular, see "Risks Relating to Our
Business" in Management's Discussion and Analysis in our quarterly
report on Form 10-Q for the quarter ended March 31, 2006, and our
Annual Report on Form 10-K for the fiscal year ended September 30,
2005, both filed with the SEC. Cabot Microelectronics Corporation
assumes no obligation to update this forward-looking information.
Cabot Microelectronics Corporation
Barbara Ven Horst, 630-375-5412
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