References to Sealegs' technology removed from rival's website as injunction showdown looms
Move comes ahead of an application for an injunction over the alleged infringement of Sealegs' intellectual property.
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Hawke’s Bay
Auckland-based boat builder Smuggler Marine has removed references to Sealegs Corp's amphibious boat technology from its website ahead of an application for a High Court injunction next month over the alleged infringement of Sealegs' intellectual property.
At the time Sealegs announced it was seeking an injunction against Orion Marine, Smuggler Marine and some ex-Sealegs employees on September 9, Smuggler was advertising its Strata 770 as being "teamed up with Sealegs technology" but pictures have been taken down, with only a passing reference to the model on a link page.
Smuggler managing director David Pringle wasn't immediately available to comment but Sealegs chief executive David McKee Wright noted that the rival firm had taken down references to what he called "obviously a copy" of Sealegs' seven-part system. McKee Wright added that it was "disappointing that the copy was made by a bunch of ex-employees."
Sealegs's amphibious boat technology was previously licensed by Smuggler.
NBR reported this month that Sealegs unsuccessfully tried to get an urgent hearing, arguing Smuggler had planned to launch the model at the Auckland Boat Show that started today.
Sealegs is scheduled to hold its annual shareholders' meeting in Auckland on Friday. The company turned profitable in its latest year, eking out full-year earnings of $507,576 in the year ended March 31, from a loss of $2.4 million a year earlier. Sales rose 7% to $18.6 million and its gross margin widened to 28% from 19%.
Still, Sealegs sold fewer vessels at 98, down from 101 in 2015. Of those, 14 were original equipment manufacturer (OEM) hulls fitted with Sealegs technology to be used by another branded boat builder, compared to one in 2015, while the company also sold 13 "amphibious enablement kits" fitted to existing boats, up from eight a year earlier.
Shares in Sealegs last traded at 8c and have fallen 27% this year.
(BusinessDesk)
Jonathan Underhill
Thu, 29 Sep 2016
Thu, 29 Sep 2016
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References to Sealegs' technology removed from rival's website as injunction showdown looms
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