SCBIZ Daily Staff

COLUMBIA – A settlement has been reached in a lawsuit the Nucor Corporation filed in Federal Court against a former employee, John Bell, and SeverCorr, the company Bell joined when he left Nucor.

Nucor states the case was filed to protect the company against the theft of its confidential information. Under the terms of the settlement, the court has extended an injunction it previously entered in Nucor’s favor earlier this year. The order prohibits Bell and SeverCorr from using Bell’s services in the preparation or manufacturing of interstitial free and ultra low carbon steels. The order will remain in place until June 2009.

In addition, the court has also entered a new order which prohibits SeverCorr from producing, qualifying, promoting or marketing any ability to produce and sell interstitial free and ultra low carbon steels to prospective or actual customers. This Order will remain in place until at least September 2009.

The financial terms of the settlement were not disclosed.

Nucor, which is based in Charlotte, N.C., has several facilities in South Carolina, including Darlington and Berkeley counties.