Terms of the Mitsubishi agreement are confidential, according to Rothschild's attorney, Albert Jacobs Jr. of Troutman Sanders LLP. However, the aggregate received from her settlements and licenses -- which now have been concluded with more than 40 companies -- amounts to over $27 million, Jacobs said.

"Dr. Rothschild made a seminal breakthrough in the production of LEDs and LDs, especially the blue, violet and ultraviolet LEDs that are essential to a wide variety of consumer electronics products today," said Jacobs. "She richly deserves both scientific as well as commercial recognition for her work."

Professor Rothschild, who is the sole owner of U.S. Patent Number 5,252,499, as well as the recently expired '618 patent and foreign patents related thereto, is currently Howe Professor Emeritus of Materials Science and Engineering at Columbia. She conducted ground-breaking research in the 1980s and 1990s into the electrical and optical properties of so-called wide band-gap semiconductors. This research has proven pivotal in the development of short-wavelength emitting (blue and violet) diodes that are now widely used in consumer electronics.

She was issued two U.S. patents in the early 1990s that cover methods of producing wide band-gap semiconductors for LEDs and LDs. Such LEDs and LDs have become increasingly popular in a variety of devices as a superior lighting source because of their reduced power consumption, greater reliability, longevity and greater storage capacity.

Recognized by the American Physical Society as a Notable Woman Physicist in 1998, Professor Rothschild was elected as a Fellow of the American Physical Society in 1982.

Professor Rothschild began her research career in private industry, working with Sylvania Research Laboratories in Bayside, N.Y., in the 1950s, and later at Philips Laboratories in Briarcliff Manor, N.Y. She joined the faculty at Columbia University as a Professor of Materials Science in 1985. In 2008, she was selected as a recipient of Barnard College's Distinguished Alumna Award. She has published approximately 90 research articles and given 28 invited talks since 1980.

SOURCE: Troutman Sanders LLP

Troutman Sanders LLP 
Albert L. Jacobs Jr., 212-704-6086 
Albert.Jacobs@troutmansanders.com

Announcement (June 24, 2009):

ArvinMeritor has entered into a binding letter of intent to sell its entire 57% stake in Meritor to a subsidiary of Mitsubishi Steel.

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Completed: 2009-10-30

Deal Participants

Target (Company)   Meritor Suspension Systems Company
Acquirer (Company) Mitsubishi Steel Mfg. Co., Ltd.
Vendor (Company)   ArvinMeritor, Inc.

Deal Rationale

The sale represents an important step towards achieving ArvinMeritor's long-term strategic objective to focus on supplying the commercial vehicle on- and off-highway markets for both original equipment manufacturers and aftermarket customers.

% Acquisition 57%

The Japanese currency advanced about 10 yen higher against the dollar than Mitsubishi's assumed exchange rate. However, the firm benefited from profit gains on spot trades of coal used in steelmaking as crude steel production heated up in China and other markets.

Encouraged by its brisk performance for the six months ended in September , Mitsubishi has upgraded its full-year net profit forecast by 20 billion yen to 240 billion yen, which would mark a 35 per cent decline on the year.

Sumitomo Corp.'s (TSE:8053) net profit for the July-September term rose 48 per cent from the previous three months to 37 billion yen, partly on the strength of a wholly owned subsidiary in Bolivia involved with silver, zinc and lead operations. Meanwhile, Itochu Corp. (TSE:8001) saw its net profit soar 71 per cent to 34. 9 billion yen on recovering prices of coal and other natural resources, as well as improving profitability at its textile business.

Marubeni Corp.'s (TSE:8002) net profit shrank 12 per cent to 23.5 billion yen. But excluding a one-time profit booked in the April-June period for the sale of overseas power operations, its net profit effectively rose on a quarterly basis.

Sumitomo, Itochu and Marubeni left their full-year forecasts unchanged, citing concerns about the global economic outlook. Their automobile and steel materials operations continue to be hard hit by lackluster conditions.

(Nikkei) cg