Rohm Haas buys Kodak LCD Business

Light management films are specialty materials used to improve light utilization in flat panel displays. Kodak has established a position as a supplier to display manufacturers based on the company's proprietary materials science and image science technology. Financial terms of the agreement were not disclosed. Rohm and Haas will acquire manufacturing assets in Rochester, New York, as well as intellectual property used exclusively in the business. Kodak will license to Rohm and Haas other intellectual property under a royalty-bearing license, as well as supply the business with key raw materials. About 125 employees associated with the business in Rochester, Taiwan, China, Japan, and Korea are expected to join Rohm and Haas Electronic Materials upon closing of the transaction. Rohm and Hass technologies are found in a wide range of markets including: Building and Construction, Electronics, Food and Retail, Household and Personal Care, Industrial Process, Packaging, Paper, Transportation, and Water. Based in Philadelphia, the company generated annual sales of approximately $8.2 billion in 2006. The transaction is expected to close in the first half of 2007.