{"id":809697,"date":"2025-02-06T07:03:55","date_gmt":"2025-02-06T12:03:55","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/matthews-international-announces-positive-ruling-in-arbitration-with-tesla\/"},"modified":"2025-02-06T07:03:55","modified_gmt":"2025-02-06T12:03:55","slug":"matthews-international-announces-positive-ruling-in-arbitration-with-tesla","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/matthews-international-announces-positive-ruling-in-arbitration-with-tesla\/","title":{"rendered":"Matthews International Announces Positive Ruling in Arbitration with Tesla"},"content":{"rendered":"

\nArbitrator affirms Matthews\u2019 right to continue selling its proprietary Dry Battery Electrode technology to other customers
\n<\/h2>\n
\n

PITTSBURGH, Feb. 06, 2025 (GLOBE NEWSWIRE) — Matthews International Corporation<\/a>\u00a0(Nasdaq GSM: MATW) (\u201cMatthews\u201d or \u201cthe Company\u201d) today provided an update on the ongoing business dispute involving Tesla.<\/p>\n

On February 5, 2025, an arbitrator issued a decision on an arbitration demand filed by Matthews against Tesla in January 2024. This ruling acknowledged Matthews\u2019 extensive, pre-Tesla background in manufacturing advanced Dry Battery Electrode (\u201cDBE\u201d) technology and affirmed that the Company has the right to sell its solutions to customers other than Tesla. Matthews intends to immediately resume marketing, selling and delivering its DBE products to other customers in the growing electric vehicle market, where battery and automobile equipment manufacturers from around the world seek to adopt Matthews\u2019 innovative solutions.<\/p>\n

\u201cThis ruling confirms our rights in this groundbreaking technology and re-establishes what we have been saying for years \u2013 that we have valuable solutions to support the advancement of dry battery electrode technology,\u201d said Joseph C. Bartolacci, President and Chief Executive Officer. \u201cMatthews has been working in the battery space for over a decade, and we look forward to realizing the value of our DBE solutions and related intellectual property and continuing to innovate within the space.\u201d<\/p>\n

On November\u00a05, 2024, Matthews was awarded U.S. Patent No. 12,136,727 B2 entitled Systems for Manufacturing a Dry Electrode, and Matthews expects this foundational work to lead to further innovations and developments to support the expanding DBE industry.<\/p>\n

\n Background to the Dispute<\/strong>\n <\/p>\n

After exhausting efforts to negotiate a resolution to a dispute with its DBE customer Tesla that arose over a year ago, Matthews was forced to seek a declaratory judgment in a binding arbitration regarding Matthews\u2019 rights to continue selling its innovative DBE solutions to others. While this arbitration was ongoing, Tesla initiated duplicative litigation in federal court, vaguely alleging that Matthews had stolen Tesla\u2019s trade secrets, notwithstanding its agreement to arbitrate all such disputes.<\/p>\n

Given Tesla\u2019s decision to file a public action against Matthews in June of 2024 and in light of the importance of the arbitrator\u2019s ruling, Matthews is compelled to update the market on this matter.<\/p>\n

\n About Matthews International Corporation<\/strong>\n <\/p>\n

Matthews International Corporation is a global provider of industrial technologies, memorialization products and brand solutions. The Industrial Technologies segment includes the design, manufacturing, service and distribution of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, d\u00e9cor and tissue industries. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has approximately 12,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services.<\/p>\n

\n Forward-Looking Statements<\/strong>
\n
Any forward-looking statements contained in this release are included pursuant to the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be identified by the use of words such as \u201cexpects,\u201d \u201cbelieves,\u201d \u201cintends,\u201d \u201cprojects,\u201d \u201canticipates,\u201d \u201cestimates,\u201d \u201cplans,\u201d \u201cseeks,\u201d \u201cforecasts,\u201d \u201cpredicts,\u201d \u201cobjective,\u201d \u201ctargets,\u201d \u201cpotential,\u201d \u201coutlook,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201ccould\u201d or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company\u2019s actual results in future periods to be materially different from management\u2019s expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company\u2019s results to differ materially from the results discussed in such forward-looking statements principally include the possibility that the terms of the final award to be issued by the Arbitrator in the Tesla dispute may differ from the terms of the interim award issued by the Arbitrator and may be challenged, our ability to satisfy the conditions precedent to the consummation of the proposed joint venture transaction on the expected timeline or at all, our ability to achieve the anticipated benefits of the proposed joint venture transaction, uncertainties regarding future actions that may be taken by Barington in furtherance of its intention to nominate director candidates for election at the Company\u2019s 2025 Annual Meeting, potential operational disruption caused by Barington\u2019s actions that may make it more difficult to maintain relationships with customers, employees or partners, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company\u2019s products, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company\u2019s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company\u2019s acquisitions and divestitures, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company\u2019s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company\u2019s control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the Company\u2019s plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company\u2019s plans and expectations with respect to its Board, and other factors described in the Company\u2019s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.<\/p>\n

\n Additional Information<\/strong>
\n
In connection with the Company\u2019s 2025 Annual Meeting, the Company has filed with the U.S. Securities and Exchange Commission (\u201cSEC\u201d) and commenced mailing to the shareholders of record entitled to vote at the 2025 Annual Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY THE COMPANY AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC\u2019s website, www.sec.gov<\/u><\/a>, or from the Company at its website: http:\/\/www.matw.com\/investors\/sec-filings<\/u><\/a>. You may also obtain copies of the Company\u2019s definitive proxy statement and other documents, free of charge, by contacting the Company\u2019s Investor Relations Department at Matthews International Corporation, Two NorthShore Center, Pittsburgh, Pennsylvania 15212-5851, Attention: Investor Relations, telephone (412) 442-8200.<\/p>\n

\n Participants in the Solicitation<\/strong>
\n
The participants in the solicitation of proxies in connection with the 2025 Annual Meeting are the Company, Alvaro Garcia-Tunon, Gregory S. Babe, Joseph C. Bartolacci, Katherine E. Dietze, Terry L. Dunlap, Lillian D. Etzkorn, Morgan K. O\u2019Brien, J. Michael Nauman, Aleta W. Richards, David A. Schawk, Jerry R. Whitaker, Francis S. Wlodarczyk, Steven F. Nicola and Brian D. Walters. Certain information about the compensation of the Company\u2019s named executive officers and non-employee directors and the participants\u2019 holdings of the Company\u2019s Common Stock is set forth in the sections entitled \u201cCompensation of Directors\u201d (on page 36 and available\u00a0here<\/a>), \u201cStock Ownership of Certain Beneficial Owners and Management\u201d (on page 64 and available\u00a0here<\/a>), \u201cExecutive Compensation and Retirement Benefits\u201d (on page 66 and available\u00a0here<\/a>), and \u201cAppendix A\u201d (on page A-1 and available\u00a0here<\/a>), respectively, in the Company\u2019s definitive proxy statement, dated January 7, 2025, for its 2025 Annual Meeting as filed with the SEC on Schedule 14A, available\u00a0here<\/a>. Additional information regarding the interests of these participants in the solicitation of proxies in respect of the 2025 Annual Meeting and other relevant materials will be filed with the SEC when they become available. These documents are or will be available free of charge at the SEC\u2019s website at\u00a0www.sec.gov<\/a>.<\/p>\n

\n Matthews International Corporation<\/strong>
\n
Corporate Office
Two NorthShore Center
Pittsburgh, PA 15212-5851
Phone: (412) 442-8200<\/p>\n

\n Contacts<\/strong>
\n
\n Matthews International Co.<\/strong>
\n
Steven F. Nicola
Chief Financial Officer and Secretary
(412) 442-8262<\/p>\n

\n Collected Strategies<\/strong>
\n
Dan Moore \/ Scott Bisang \/ Clayton Erwin
MATW-CS@Collectedstrategies.com<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Arbitrator affirms Matthews\u2019 right to continue selling its proprietary Dry Battery Electrode technology to other customers PITTSBURGH, Feb. 06, 2025 (GLOBE NEWSWIRE) — Matthews International Corporation\u00a0(Nasdaq GSM: MATW) (\u201cMatthews\u201d or \u201cthe Company\u201d) today provided an update on the ongoing business dispute involving Tesla. On February 5, 2025, an arbitrator issued a decision on an arbitration demand filed by Matthews against Tesla in January 2024. This ruling acknowledged Matthews\u2019 extensive, pre-Tesla background in manufacturing advanced Dry Battery Electrode (\u201cDBE\u201d) technology and affirmed that the Company has the right to sell its solutions to customers other than Tesla. Matthews intends to immediately resume marketing, selling and delivering its DBE products to other customers in the growing electric vehicle market, where battery and … <\/p>\n

Continue reading “Matthews International Announces Positive Ruling in Arbitration with Tesla”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-809697","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMatthews International Announces Positive Ruling in Arbitration with Tesla - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/matthews-international-announces-positive-ruling-in-arbitration-with-tesla\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Matthews International Announces Positive Ruling in Arbitration with Tesla - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Arbitrator affirms Matthews\u2019 right to continue selling its proprietary Dry Battery Electrode technology to other customers PITTSBURGH, Feb. 06, 2025 (GLOBE NEWSWIRE) — Matthews International Corporation\u00a0(Nasdaq GSM: MATW) (\u201cMatthews\u201d or \u201cthe Company\u201d) today provided an update on the ongoing business dispute involving Tesla. On February 5, 2025, an arbitrator issued a decision on an arbitration demand filed by Matthews against Tesla in January 2024. This ruling acknowledged Matthews\u2019 extensive, pre-Tesla background in manufacturing advanced Dry Battery Electrode (\u201cDBE\u201d) technology and affirmed that the Company has the right to sell its solutions to customers other than Tesla. 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On February 5, 2025, an arbitrator issued a decision on an arbitration demand filed by Matthews against Tesla in January 2024. This ruling acknowledged Matthews\u2019 extensive, pre-Tesla background in manufacturing advanced Dry Battery Electrode (\u201cDBE\u201d) technology and affirmed that the Company has the right to sell its solutions to customers other than Tesla. 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