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GCP Applied Technologies Files Patent Infringement Lawsuit

CAMBRIDGE, Mass., Nov. 18, 2019 (GLOBE NEWSWIRE) -- GCP Applied Technologies Inc. (NYSE: GCP), a leading global provider of construction products technologies, announced that it has filed a patent infringement lawsuit against AVM Industries, Inc. (“AVM”) in the United States District Court for the Central District of California.  In the complaint, GCP alleges that AVM’s unauthorized use and sale of waterproofing membranes such as Aussie Skin® 550 and Aussie Skin® 560, which are imported from China, has infringed and continues to infringe GCP’s U.S. Patent No. 8,713,879, entitled “Waterproofing Membrane.”  The lawsuit seeks injunctive relief against further infringement, as well as damages and attorney’s fees in amounts to be determined at trial.  Copies of the filing and other documents related to the lawsuit are available via registration at the Court’s website, www.cacd.uscourts.gov.

GCP has marketed and sold PREPRUFE® pre-applied waterproofing membranes for years and has constantly evolved and improved its waterproofing membrane technology through continuing investments in research and development, innovation and intellectual property, which it intends to protect vigorously.  The technology described in the aforementioned patent is based on and employs PREPRUFE® technology, which enhances the bonding of concrete to the adhesive and minimizes waste paper at the jobsite.  GCP owns an array of patents domestically and internationally covering its various waterproofing membrane technologies.  

About GCP Applied Technologies Inc.
GCP is a leading global provider of construction products technologies that include additives for cement and concrete, the VERIFI® in-transit concrete management system, high-performance waterproofing products, and specialty systems.  GCP products have been used to build some of the world’s most renowned structures.  More information is available at www.gcpat.com.

Forward-Looking Statements
This announcement contains “forward-looking statements,” that is, information related to future, not past, events.  Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “estimates”, “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions.  Forward-looking statements include, without limitation, statements about expected: financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; strategic alternatives; capital and other expenditures; competitive positions; growth opportunities; benefits from new technology; and cost reduction initiatives.  GCP is subject to various risks and uncertainties that could cause its actual results to differ materially from those contained in forward-looking statements, including, without limitation, risks related to: the cyclical and seasonal nature of the industries that GCP serves; foreign operations, especially in emerging regions; changes in currency exchange rates; the cost and availability of raw materials and energy; new product introductions and other growth initiatives; acquisitions and divestitures of assets; GCP’s outstanding indebtedness, including debt covenants and interest rate exposure; GCP’s funded and unfunded pension obligations; warranty and product liability claims; legal proceedings; the inability to establish or maintain certain business relationships, including with customers and suppliers; employee retention; and compliance with environmental laws.  These and other factors are identified and described in more detail in GCP's Annual Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission and is available online at www.sec.gov.  Readers are cautioned not to place undue reliance on GCP’s projections and other forward-looking statements, which speak only as the date thereof.  GCP undertakes no obligation to publicly release any revision to its projections and other forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.

Investor Relations
Joe DeCristofaro
+1 617.498.2616
investors@gcpat.com