Franklin Electric, Pentair Pump Group, Sta-Rite Industries settle lawsuit
Bluffton, IN—Franklin Electric Inc. reports that a settlement has been reached in litigation filed by Pentair Pump Group and Sta-Rite Industries against Franklin.
Bluffton, IN— Franklin Electric Inc. reports that a settlement has been reached in litigation filed by Pentair Pump Group and Sta-Rite Industries against Franklin. This litigation challenged Franklin's recently announced plans to distribute 4-in. submersible motor products directly to distributors in the U.S. and Canada, as well as Franklin's announced price changes on its 4-in. motors.
Under the terms of the settlement, Pentair and Sta-Rite will continue buying from Franklin most of the 4-in. submersible electric motors, in 1/3- through 2-HP size ratings, which they will require in the U.S. and Canada through Dec. 31, 2006. During this same time period, Franklin has agreed to continue supplying these products to Pentair and Sta-Rite under terms of previous arrangements, as amended between the parties.
The settlement agreement contains no limitation on the sale of any other Franklin products to distributors, including assembled pump motor units sold through its newly acquired Franklin Pump Systems business unit. The pending litigation has been dismissed with prejudice in accordance with the terms of the settlement agreement. Other aspects of the settlement were not disclosed.
Franklin manufactures groundwater and fuel pumping systems, and specializes in submersible motors, drives, controls, and monitoring devices.
Control Engineering Daily News Desk
Jim Montague, news editor