PR Newswire | Nov 13, 2020 03:00AM EST

11/13 02:00 CST

Arelik A.S. and LG Electronics Inc settle patent disputes ISTANBUL, Nov. 13, 2020

ISTANBUL, Nov. 13, 2020 /PRNewswire/ -- Arelik A.S. and LG Electronics Inc, recently settled all patent disputes related to refrigerator ice making technology and washing machine technology. Accordingly, lawsuits in Germany, France, and Spain have been terminated. Both parties are pleased the settlement brings the lawsuits to a conclusion and will allow both parties to focus on their business. Detailed terms and conditions of the settlement remain confidential.

About Arelik

With over 30,000 employees throughout the world, 12 brands (Arelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko), sales and marketing offices in 34 countries, and 22 production facilities in 8 countries, Arelik offers products and services in nearly 150 countries. As Europe's second largest white goods company according to market share ranking based on quantity, Arelik reached a consolidated turnover of 5 billion Euros in 2019. With almost 70% of its profits coming from the international markets, Arelik is the R&D leader in Turkey - holding more than 3,000 international patent applications to date with the efforts of 1,600 researchers in 15 R&D and Design Centers in Turkey and R&D Offices across five countries.

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SOURCE Arelik