2024 m. gruodžio 10 d.
Aboutwear, a subsidiary of SBA company Utenos Trikotažas, has concluded a settlement with About You GmbH, a German company, to end the dispute over the trademark About. Under the agreement signed on 9 December, the German company paid a compensation of EUR 2 million to Aboutwear, which, in return, transferred its controlled trademarks.
"We have reached an amicable settlement with the German company in a dispute that lasted four years. We are transferring the trademarks with the 'About' designation to 'About You GmbH' and discontinuing the legal processes we initiated in Europe and Lithuania. The compensation received, after covering the costs related to this process, will be used to implement the company's restructuring approved this year," says Vytautas Vaškys, Chairman of the Board of Utenos Trikotažas.
According to Mr. Vaškys, under the agreement, Utenos Trikotažas subsidiary Aboutwear has transferred the trademarks ABOUT BALTIC UNDERWEAR and ABOUT THE SENSOLOGY OF WEAR to the German company and has committed to change its name so that it will no longer use the "About" mark.
The compensation received may be significant in the restructuring case of Utenos Trikotažas, which was approved by the Panevežys Regional Court on 8 October. Utenos Trikotažas is currently implementing a four-year restructuring plan approved by its shareholders and creditors.
About Utenos Trikotažas
Utenos Trikotažas is one of the largest and sustainable knitwear manufacturers in Central and Eastern Europe. Its specialized focus lies in on-demand ready-to-wear production and jersey fabric development for leading international brands, covering the entire production process from yarn to finished products. Utenos Trikotažas Group operates three factories - Utenos Trikotažas (Lithuania), Šatrija (Lithuania) and OAO Mrija (Ukraine). Utenos Trikotažas is part of the SBA group.
In the first nine months of 2024, the Utenos Trikotažas group fulfilled production orders and provided services worth €12.2 million. The group exported 80.8% of its production.
Additional information is available from Aurimas Likus, Finance Director, tel. No. +370 618 07809.
