Electric Fuel Settles Trademark Suit with Electrofuel

July 25, 2001 by Jeff Shepard

Electric Fuel Corp. (New York, NY) announced that it has signed a settlement agreement with Electrofuel Inc. (Canada) in connection with ongoing trademark-infringement litigation that will now be dismissed.

Under the settlement, Electrofuel will discontinue its use of Electrofuel as a trademark or company name in connection with batteries within six months. Electrofuel may continue to use the name on the Toronto Stock Exchange, and in connection with its ceramics-related business.

Yehuda Harats, president and CEO of Electric Fuel, commented, "The Electric Fuel name is an important asset of the company and its shareholders. When it became clear to us that there was a likelihood of confusion with a similar name, we took the appropriate measures to protect our investment."