Leatt Joins Up With a New Partner in Brazil
CAPE TOWN, SOUTH AFRICA, Oct 28, 2009 (MARKETWIRE via COMTEX) -- Leatt Corporation (PINKSHEETS: LEAT), a Nevada, USA Corporation headquartered in Cape Town, South Africa, and the developer of the Leatt-Brace(R), a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), announced today that Leatt and Steel Joint have reached a settlement of their dispute over the alleged infringement by Steel Joint of Leatt Corporation's intellectual property rights. Separately, Leatt Corporation has also appointed Silva Mattos and CIA LTDA as the new Brazilian distributor of the Leatt-Brace(R).
The settlement is over the alleged infringement by the Steel Joint Neck Brace of Leatt's rights in the Leatt-Brace Moto GPX. Under the terms of settlement, Steel Joint has stopped selling its Neck Brace product internationally and will pay an undisclosed settlement sum to Leatt.
Leatt has appointed Silva Mattos & CIA LTDA as their new distributor in Brazil. Silva Mattos & CIA LTDA, which was established in 1986, is a family business and a market leader in Brazil of motorcycle gear. Their website can be seen at www.silvamattos.com.br.
Dr. Leatt, the Chief Executive Officer of Leatt Corporation, said that he was very pleased by the outcome: "Leatt is entering the Brazilian Market vigorously with a new prestigious partner and a settlement agreement with a now former competitor. This will hopefully promote Leatt's market presence in Brazil."
About The Leatt Corporation: The Leatt Corporation is the exclusive global distributor of the Leatt-Brace(R), a Neck Brace designed to prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The Company is located in Cape Town, South Africa with offices in the U.S. Visit our Company web site at www.leatt-corp.com.
For more information on the Leatt-Brace(R), please visit the company website at www.leatt-brace.com. |
