MAYFIELD VILLAGE, Ohio, June 13, 2013 /PRNewswire/ -- We at Preformed Line Products Company (NASDAQ: PLPC) take intellectual propriety rights very seriously: not only our own rights but also those of others. While we acknowledge Channell's right to defend its intellectual property, we find its allegations against our COYOTE® Ground Level Closure (GLC) to be baseless and without merit. The COYOTE GLC is an innovative ground level fiberoptic closure system which utilizes PLP's patented segmented endplate design and flexible grommet system.
We regret that Channell has chosen to pursue this course of action in court rather than reaching out for discussion prior to filing their lawsuit. While we hope to resolve this issue amicably, we remain committed to defending our rights and intellectual property to the fullest extent possible.
Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.
Preformed's world headquarters are in Mayfield Village, Ohio, and the Company operates three domestic manufacturing centers, located in Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North Carolina. The Company serves its worldwide market through international operations in Argentina, Australia, Brazil, Canada, China, England, Indonesia, Malaysia, Mexico, New Zealand, Poland, South Africa, Spain and Thailand.
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the strength of the economy and demand for the Company's products, increases in raw material prices, the Company's ability to identify, complete and integrate acquisitions for profitable growth, and other factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company's 2012 Annual Report on Form 10-K filed with the SEC on March 15, 2013 and subsequent filings with the SEC. The Annual Report on Form 10-K and the Company's other filings with the SEC can be found on the SEC's website at http://www.sec.gov. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE Preformed Line Products Company