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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 22, 1998
KOLLMORGEN CORPORATION
(Exact name of registrant as specified in its charter)
New York 1-5562 04-2151861
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1601 Trapelo Road, Waltham, Massachusetts 02154
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (617) 890-5655
None
(Former name or former address, if changed since last report.)
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Item 5. Other Events
On January 22, 1998, Kollmorgen Corporation announced that it would
receive $27.2 million in connection with a confidential settlement and
paid-up licensing agreement. A copy of the press release is attached as
Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits -
99 Press Release dated January 22, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Corporation has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
KOLLMORGEN CORPORATION
By: /s/ Robert J. Cobuzzi
Robert J. Cobuzzi, Senior Vice President,
Treasurer and Chief Financial Officer
Date: January 27, 1998
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Exhibit 99
Contact: James A. Eder
KOLLMORGEN CORPORATION
(860) 232-3121
KOLLMORGEN TO RECEIVE $27.2 MILLION FOR PATENT SETTLEMENT
Waltham, Mass., Jan. 22, 1998 . . . Kollmorgen Corporation (NYSE:KOL)
announced today that FANUC LTD of Oshino-mura, Japan, has agreed to pay
Kollmorgen $27.2 million under a confidential settlement and paid-up
licensing agreement covering certain Kollmorgen motion control patents.
The settlement amount, less applicable Japanese withholding taxes, is
expected to be received by Kollmorgen in the 1998 first quarter.
Gideon Argov, Kollmorgen' President and Chief Executive Officer,
said, "Kollmorgen has an extensive and valuable portfolio of U.S. and
foreign patents in the field of electronic motion control which Kollmorgen
recently began to license to third parties. We are pleased that FANUC LTD
is among the third parties that have obtained a non-exclusive license from
us.
Unfortunately, the unauthorized use of our patent estate has recently
become more widespread. Accordinly, while we have enforced these patents
through litigation in the past, we have now begun the process of offering
third parties the opportunity to obtain licenses from us before commencing
litigation. A number of large domestic and foreign companies have already
been contacted and we are notifying other parties that we believe are
infringing our patents."
Morgan & Finnegan, Kollmorgen's patent counsel for more than twenty-
five years, is assisting the Company in enforcing and licensing these
patents.
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Kollmorgen's primary business is in the area of high-performance
electronic motion control. Growth in this business area is fueled by the
need for higher productivity in every industrial, commercial, aerospace,
and consumer market segment. Additional information on Kollmorgen can be
found on the World Wide Web at http://www.kollmorgen.com.
Safe Harbor Statement
This release contains forward-looking statements as defined in the
federal securities law. Anticipated performance and additional licensing
revenues may not be achieved due to a variety of factors, including, but
not limited to Kollmorgen's inability to enter into licensing arrangements
with third parties or adverse results in future litigations, and other
risks detailed in Kollmorgen's filings with the Securities and Exchange
Commission.
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January 22, 1998
