LJUNGSTRÖM and Shanghai Boiler Works finalize settlement agreement

WELLSVILLE, N.Y., Feb. 27, 2024 /PRNewswire/ -- LJUNGSTRÖM is pleased to announce that it has reached a settlement agreement with Shanghai Boiler Works Co. Ltd. (SBW) regarding the use of LJUNGSTRÖM's Air Preheater (APH) and Gas-Gas Heater (GGH) technology licensed to them in 2001. The settlement agreement does not provide SBW with rights to produce or sell the LJUNGSTRÖM's APH and GGH technologies developed after 2001. However, it does now provide certainty on what future use SBW can make of the LJUNGSTRÖM technology that was licensed to them.

With this new agreement LJUNGSTRÖM acknowledges that SBW's customers can engage them to:

1) provide aftermarket services for SBW's global installed base of APH & GGH
2) supply traditional new APH & GGH equipment for coal fired power generation projects both in China and overseas only when installed by a Chinese EPC company (Engineering, Procurement and Construction company)

"We look forward to working with SBW in future to explore opportunities to supply its customers with LJUNGSTRÖM's more efficient proprietary heating elements manufactured in our factory in Nantong, China." said Thomas Barwald, Managing Director of LJUNGSTRÖM China.

LJUNGSTRÖM continues to retain all its other rights globally to exclusively service our APH and GGH technologies across the many uses in the energy & environmental sectors, including any emerging industrial markets for our products.

About LJUNGSTRÖM
LJUNGSTRÖM, a division of the ARVOS Group, is a global leader providing innovative solutions to a diversified range of industries, with a focus on environmentally beneficial technologies to enable more efficient and cleaner operations. With a century of history in Wellsville, New York, LJUNGSTRÖM has a proven track record of expertise in engineering, manufacturing, and field services.

Related links:
https://www.ljungstrom.com

SOURCE LJUNGSTRÖM