NEW YORK NanoSteel Co. Inc. has settled its trademark infringement lawsuit against VirinaSteel, formerly known as Green Nano Steel, as VirinaSteel prepares to sell high-strength steel products in the United States.
Providence, R.I.-based NanoSteel alleged in the suit filed in U.S. District Court in California that Redondo Beach, Calif.-based VirinaSteel wrongfully appropriated its trademarked "NanoSteel" name and photographs and used the name on its website, potentially misleading potential customers and harming NanoSteels reputation (amm.com, March 1).
NanoSteel voluntarily dismissed the lawsuit after Green Nano Steel adopted its new name and redesigned its website.
"We stopped using NanoSteel. It wasnt that important to us," VirinaSteel engineer John Wong told AMM. "We accept the spirit of what our steel isits green, its nano, but we dont use the word."
VirinaSteel plans to produce steel on a contract basis with U.S. mills using its own formula, Wong said. "We put our ingredients into the ladle while the steel is being made for us, so it comes out of the steel mill in slabs, in billets and in blooms to our specifications. Then we have the mill finish it or we take it to a third party. (The final product) could be in coil, plate, beam, rebar."
Wong said VirinaSteel is currently selling steel in Taiwan and hopes to begin selling steel in the United States within a year.
NanoSteel could not be reached for comment.