Breach-of-Contract Suit Filed by Flamemaster
Flamemaster Corp., a Sun Valley maker of aircraft sealants, adhesives and coatings, said it filed a $75-million breach-of-contract lawsuit against Courtaulds Aerospace Inc. of Glendale and its British parent Courtaulds PLC.
The suit accuses Courtaulds of monopolizing the production, distribution and sale of high adhesion, temperature- and fuel-resistant sealing compounds, Flamemaster said.
It also accuses Courtaulds of violating several agreements between the two companies to jointly develop and market new products.
The suit was filed last week in U.S. District Court in Los Angeles, Flamemaster said.
A spokesman for Courtaulds Aerospace said the lawsuit was without merit and the company would defend itself vigorously.
According to Flamemaster, the suit also charges Courtaulds with antitrust violations, unfair trade practices and fraud in connection with their agreements.
Flamemaster is also seeking to cancel 349,321 of the 429,321 shares of its common stock that are held by PLC, a predecessor of Courtaulds Aerospace.
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