The latest update is out from Nanophase Technologies Corporation (NANX).
Nanophase Technologies Corporation and BASF Corporation have reached a settlement resolving their legal dispute, with Nanophase amending their supply agreement to ensure BASF’s exclusive rights to certain zinc oxide materials while also allowing Nanophase to sell specific zinc oxide products globally. The agreement, enhanced to better meet operational and business needs, comes after BASF’s initial lawsuit alleging Nanophase’s breach of exclusivity. The companies have also agreed to collaborate on developing a modified zinc oxide product for BASF’s exclusive purchase. The settlement includes mutual releases of all claims and a commitment to confidentiality, with the full details accessible in the companies’ formal documents.
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