Pergo, Faus settle lawsuits; agree to share technologies
"This settlement is consistent with Pergo's business strategy of seeking cooperation rather than resorting to litigation as the first option," said Tony Sturrus, president and CEO of Pergo AB. "We are pleased that both parties reached an agreement whereby we can focus on competing with each other in the marketplace as opposed to the courtroom."
Juan Negre, chairman of Faus Group Inc., said he was also glad to settle the lawsuits. "We are extremely pleased to have resolved all existing and foreseeable disputes with Pergo," he said.