Horizon Global and Continental Settle Long-standing Patent Dispute

Rhea-AI Summary

Horizon Global Corporation (NYSE: HZN) has reached an amicable resolution with Continental Automotive Systems regarding a two-year patent dispute over electronic trailer brake controllers. The terms of the settlement remain confidential. Headquartered in Plymouth, MI, Horizon specializes in designing and manufacturing towing and trailering equipment, serving major markets in North America and Europe. The company is committed to innovation and protecting its intellectual property while maintaining leadership in the automotive and agricultural sectors.

Positive

• Resolution of a two-year patent dispute can reduce legal expenses and uncertainties.
• Continued focus on innovation and intellectual property protection can enhance competitive advantage.

Negative

• None.

PLYMOUTH, Mich.--(BUSINESS WIRE)-- Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today released the following announcement:

Horizon Global Americas Inc., a subsidiary of Horizon Global Corporation (NYSE: HZN), and Continental Automotive Systems, Inc. have agreed to amicably resolve their 2-year-old dispute over patent rights to their electronic trailer brake controllers. The specific terms are confidential.

Horizon Global is a leading designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America and Europe. The Company is focused on delivering innovation and performance solutions to its customers and global consumers and will continue to pursue available means to protect its intellectual property.

About Horizon Global

Headquartered in Plymouth, MI, Horizon Global is a leading designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company’s mission is to utilize forward-thinking technology to develop and deliver premium products for our customers, engage with our employees and realize value creation for our shareholders.

Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: Draw-Tite, Reese, Westfalia, BULLDOG, Fulton and Tekonsha. Horizon Global has approximately 3,800 employees.

For more information, please visit www.horizonglobal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220608006029/en/

Jeff Tryka, CFA

Investor Relations, Lambert & Co.

(616) 295-2509

jtryka@horizonglobal.com

Source: Horizon Global Corporation

FAQ

What is the recent patent dispute resolution involving HZN?

HZN reached a confidential settlement with Continental Automotive Systems regarding electronic trailer brake controllers.

How does the patent dispute resolution impact Horizon Global Corporation?

The resolution may alleviate legal uncertainties and expenses for HZN.

What markets does Horizon Global Corporation serve?

HZN serves North America and Europe with towing and trailering products.

What is Horizon Global Corporation's focus in its business operations?

HZN focuses on innovation in towing and trailering equipment while protecting its intellectual property.