SEPTEMBER 2011
                                        

Infringement lawsuit settled

Advanced Steel Recovery, FASTek, and Sierra International Machinery have settled a patent infringement lawsuit brought by FASTek against Sierra International Machinery in the United States District Court for the Southern District of California arising from Sierra International Machinery’s purchase and use of the Steco Scrapper Container Loader.

As a part of the settlement, Sierra International Machinery acknowledges that the Steco Scrapper Container Loader infringes FASTek and Advanced Steel Recovery’s patents and that those patents are valid and enforceable. Sierra International Machinery further agrees to permanently cease using the Steco Scrapper Container Loader.

Sierra International Machinery will immediately begin using FASTek’s patented container loading system in its own scrap operations, and begin marketing FASTek’s patented container loading system both domestically and internationally.

Frankel noted that FASTek continues to pursue its federal lawsuit against Blue Tee Corp. and Steco for patent infringement related to the same patents and fully expects to prevail in that action. Advanced Steel Recovery and FASTek are committed to continuing to aggressively protect and enforce their intellectual property rights.