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Rohm and Haas forms FPD JV with Korean firm

Posted: 17 Aug 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Rohm and Haas joint venture? FPD JV? Korean firm?

Rohm and Haas Company and South Korean firm SKC Inc. have announced they are forming a joint venture that will develop, manufacture and market advanced optical and functional films used in the flat-panel display industry.

Under the joint venture arrangement, SKC will spin-off its Display Technologies business into a separate legal entity. Rohm and Haas will invest to become a 51-percent owner in the new company. Closing of this transaction is expected Q4 2007 pending approval by regulatory authorities.

Rohm and Haas will have a controlling interest in the joint venture company, which will be headquartered in South Korea. Rohm and Haas' investment in the joint venture is expected to be approximately $190 million. Combined with the acquisition of Eastman Kodak Company's Light Management Films business earlier this year, Rohm and Haas will have invested approximately $230 million to build a new business unitFlat Panel Display Technologieswithin its Electronic Materials group. Overall sales of the new business unit are expected to be approximately $350 million in 2008.

Products developed, manufactured and marketed by the joint venture will include a suite of specialty display films for LCD and plasma displays. The joint venture will also include dispersions of pigments, key ingredients used to manufacture LCD color filter plates.

"Our current Flat Panel Display business, which includes process chemicals and optical display films recently acquired from Eastman Kodak's Light Management Films unit, features a deep product pipeline, solid R&D and a broad intellectual property portfolio," said Yi Hyon Paik, VP and business group director, Rohm and Haas Electronic Materials. "SKC brings a strong and respected presence in the Asia flat panel markets, as well as outstanding manufacturing infrastructure, applications engineering, and customer intimacy."

"Rohm and Haas Electronic Materials has an excellent reputation for materials innovation and research excellence," Jang Suk Park, SKC president. "SKC also brings a broad line-up of film technologies to the new JV, as well as established manufacturing capability and customer relationships throughout Asia."

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