Tennant Company Granted Interim Injunction Against Kärcher's False Statements About Ec-H2O™ Advertising
Tennant Company (NYSE: TNC), a world leader in designing, manufacturing
and marketing of solutions that help create a cleaner, safer, healthier
world, today announced that the Regional Court in Cologne, Germany, has
Tennant Company (NYSE: TNC), a world leader in designing, manufacturing and marketing of solutions that help create a cleaner, safer, healthier world, today announced that the Regional Court in Cologne, Germany, has granted Tennant an interim injunction against Alfred Kärcher GmbH & Co. KG. The court’s decision, effective immediately, means that Kärcher is no longer allowed to state that Tennant has weakened its ec-H2O™ advertising claims, and Kärcher must immediately remove all such statements from the Internet. If future violations to the court’s decision occur, Kärcher could be forced to pay a fine of up to €250,000 EUR (approximately $327,000 USD) to the German state. Tennant sought and was granted the injunction after Kärcher refused Tennant’s request to cease and desist in spreading false information about Tennant’s ec-H2O advertising. Commented Chris Killingstad, Tennant Company's president and chief executive officer: “We are pleased with the court’s actions to halt the spread of disparaging statements by a competitor. We stand behind our ec-H2O technology and the many benefits that ec-H2O provides customers worldwide.” Tennant’s proprietary ec-H2O technology electrically converts water into an innovative cleaning solution that cleans effectively, saves money, improves safety and reduces environmental impact. Company Profile Minneapolis-based Tennant Company (NYSE: TNC) is a world leader in designing, manufacturing and marketing solutions that help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; chemical-free and other sustainable cleaning technologies; and coatings for protecting, repairing and upgrading floors. Tennant's global field service network is the most extensive in the industry. Tennant has manufacturing operations in Minneapolis, Minn.; Holland, Mich.; Louisville, Ky; Uden, The Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai, China; and sells products directly in 15 countries and through distributors in more than 80 countries. For more information, visit http://www.tennantco.com.
The ex-dividend date for Tennant Company (NYSE:TNC) is Tuesday, May 29, 2012. Owners of shares as of market close today will be eligible for a dividend of 17 cents per share. At a price of $42.41 as of 9:30 a.m., the dividend yield is 1.6%.
Tennant Company (NYSE:TNC) hit a new 52-week high Thursday as it is currently trading at $47.53, above its previous 52-week high of $47.45 with 5,613 shares traded as of 9:55 a.m. ET. Average volume has been 110,500 shares over the past 30 days.