Mastip Technology will pay Mold-Masters a royalty fee in return for a worldwide licence for its hotrunner technology

Mastip Technology will pay Mold-Masters a royalty fee in return for a worldwide licence for its hotrunner technology

Mold-Masters and Mastip Technology have reached an out-of-court settlement on their dispute over patented hotrunner technology. Mastip will pay Mold-Masters a lump-sum royalty fee, which will grant Mastip a worldwide licence to use the technology described in Mold-Masters’ US patent 5,299,928. The patent is for a two-piece injection moulding nozzle seal.

Unrelated to this settlement Mold-Masters has granted Mastip a licence to use a modular manifold, described in US patent 4,761,343. Mold-Masters is based in Ontario, Canada, and has manufacturing facilities in Germany, Japan, the US, Canada, Brazil and Singapore. It claims to have more than 1,600 granted and pending international patents and serves customers in 40 countries.