23 April 2012

Timex Group USA announces settlement reached in patent infringement suit

MIDDLEBURY, CT (April 23 2012) – Timex Group USA, Inc. today announced that an out-of-court settlement was reached in the patent infringement suit brought against Advance Watch Company, Ltd in 2008 which alleged infringement against the Timex Ironman® Sleek line of watches.

“Timex invests significantly in intellectual property and new product development,” said Adam Gurian, President, Timex. “Consequently, we will aggressively enforce our intellectual property rights. We are pleased that Advance Watch Company has voluntarily agreed to cease further sales of the watches in question.”

About Timex Sports Watches

Currently celebrating the 25th anniversary of the first Timex Ironman watch, Timex has an unparalleled heritage of creating innovative, technologically advanced and reliable timepieces for endurance athletes. The Timex Ironman brand legacy of leadership, innovation and style in international sport is evident in the brand’s extensive anthology of elite training devices and fitness aids. Timex Ironman timepieces are worn by athletes on every continent and have been added to the Smithsonian National Museum of American History. Consumers are invited to interact with the brand and its strategic partners, including World Triathlon Corporation, New York Road Runners Club, Penn Relays, and the New York Giants, on Facebook.com/TimexSports.

About the Timex Group

Timex Group designs, manufactures and markets innovative timepieces and jewelry globally. Founded in 1854, Timex is part of Timex Group, a privately-held company with numerous brands and over 5,000 employees worldwide. It is one of the largest watch makers in the world with companies and exclusive licenses worldwide.

Michele Szynal