Photon Control Settles Two Law Suits With Azbil North America, Inc. and Yamatake Corp.

BURNABY, BC, May 24, 2011 /CNW/ - Photon Control Inc. ("Photon Control") (TSX-V: PHO), a leading developer of innovative measurement technologies, announces settlement of the two law suits with Azbil North America, Inc. ("Azbil") and Yamatake Corp. ("Yamatake") filed in the United States, originally announced on September 22, 2010.

Photon Control filed suit against Azbil in California state court, and against Azbil's parent, Yamatake Corp., in federal court in California.  The disputes related to Photon Control's proprietary and trade secret fiber optic temperature sensor technology.  Photon Control asserted, among other things, that Azbil and Yamatake had misappropriated the trade secrets of Photon Control.  Photon Control has now resolved its disputes with Azbil and Yamatake and both litigations have been dismissed without prejudice.

The parties have agreed to continue their working relationship and have entered into a new agreement with the expectation that all parties involved will benefit from continued cooperation in the development and supply of fiber optic temperature sensors to their customers throughout the world. Photon Control will continue to provide products and technical support and assistance in the area of optical temperature sensors to both Azbil and its customers.  Moreover, the parties have agreed to work together to develop and protect their intellectual property in the area of optical temperature sensors.

About Photon Control Inc.    www.photon-control.com

Photon Control Inc. commercializes and develops innovative measurement technologies specializing in Oil & Gas, Semiconductor, Power and Manufacturing industries world wide. Photon Control's products have competitive advantages in both performance and cost. Photon Control's mission is to preserve and improve human life through the creation of innovative measurement technologies. Headquartered in Burnaby, BC, Photon Control Inc is listed on the TSX Venture, trading under the symbol ''PHO." Additional information about the company can be found at www.photon-control.com/investorrelations.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Photon Control Inc.

For further information:

Company Contact:
           
Helena Rebec, Chief Administrative Officer
604.422.8861 x 101
hrebec@photon-control.com

 


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