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Varitronix to enter OLED market

Posted: 31 Mar 2006 ?? ?Print Version ?Bookmark and Share

Keywords:LCD? Varitronix? OLED? Ness Display Holdings?

LCD maker Varitronix Int. Ltd has announced plans to enter the OLED market by taking up as much as 29.91 percent in OLED developer and marketer Ness Display Holdings Ltd.

"Ness Display's experience and production capability for OLED offers the company a quick entrance to the market," said Varitronix Chairman Chang Chu Cheng.

The company is looking to acquire 277,777 preferred shares in Ness Display at a cost of about HK$156 million ($20 million at HK$7.76:$1). Varitronix also acquired warrants and notes which, when converted into shares, will boost the company's total stake in Ness Display from an initial 5.66 percent to 29.91 percent.

Varitronix is looking to tap Ness Display's experience to gain a competitive foothold in the OLED market. "It will take a new entrant several years to gain such experience," said Cheng.

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