Horizon Global Receives Full Payment for License Following Patent Dispute over Electronic Brake Controllers

Dateline:

TROY, Mich.

TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today released the following announcement:

Horizon Global Americas Inc., a subsidiary of Horizon Global Corporation (NYSE: HZN), and Hopkins Manufacturing Corporation mutually announce that after productive negotiating sessions, they have agreed to amicably resolve their four year old dispute over patent rights to their electronic brake controllers. Under the agreement, Hopkins will pay Horizon for a fully paid license on the patented brake controllers that were the subject of the lawsuit. The parties will execute mutual releases with the specific terms remaining confidential.

Horizon Global is the holder of well more than one thousand patents/applications across its industry-leading portfolio of towing and trailering brands. The Company is focused on delivering innovation and performance solutions to its customers and global consumers and will continue to pursue available means to protect its intellectual property.

About Horizon Global

Horizon Global is the #1 designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America, Australia and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company’s mission is to utilize forward-thinking technology to develop and deliver best-in-class products for our customers, engage with our employees and realize value creation for our shareholders.

Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: BULLDOG, Draw-Tite, Fulton, Hayman Reese, Reese, ROLA, Tekonsha, and Westfalia. Horizon Global has approximately 4600 employees in 67 facilities across 21 countries.

For more information, please visit  www.horizonglobal.com .

Contact:

Horizon Global Corporation
Christi Cowdin
Director of Corporate Communications and Investor Relations
(248) 593-8810
ccowdin@horizonglobal.com

Cookie Settings