Valinge Flooring Technology Forms R&D Unit

Viken, Sweden, July 19, 2011 -- Valinge Flooring Technology said it has founded a new business unit that will work with research and development and intellectual property related to flooring and non-flooring technology.

The unit is independent of Välinge Innovation.

One of the main objectives of the new is to develop new or upgraded versions of locking systems that are based on principles not covered by third parties’ patents, the company said.

VFT will cooperate with Välinge Innovation AB, which will receive the rights to sub license the VFT patents on terms that are more competitive than the cross license fees that are required by other patent holders.

Välinge Innovation AB will also handle customer support and marketing of the new systems.

The new systems will be presented during the Välinge Expo in September.

VFT, owned 100% by Pervan Holding, is the mother company and the majority shareholder of Välinge Innovation AB.