© Aixtron Components | October 25, 2018
Aixtron and Iruja Co. Ltd. sign JV agreement
A Joint Venture agreement signed by Aixtron SE, Germany and Iruja Co. Ltd., South Korea covers the investment in Apeva, Aixtron's subsidiary for OLED deposition technologies. Closing of the Joint Venture Agreement is expected during 2018.
Iruja will contribute their Automation & Handling Technology for the display market into the Joint Venture in steps, also making cash contributions. In exchange for these contributions, Iruja will obtain an equity stake in Apeva of up to 20% over the next few years. Furthermore, Iruja will act as a manufacturing partner in Korea for Apeva to give access to a high quality local supply chain and manufacturing resources. Aixtron has contributed its OVPD technologies into Apeva, a press release states. Based on the contributions from both companies, APEVA will become a complete deposition system provider for the organic material layers within the OLED stack and will operate out of locations in Herzogenrath, Germany (for deposition technology) and out of Asan-si, Chungcheongnam-do, South Korea (for Automation & Handling technology as well as local customer support) in close proximity to major OLED customers. A major Asian OLED display maker is currently evaluating OVPD (Organic Vapor Phase Deposition) based technology together with APEVA: A Gen1-size prototype has been operating at the customer's facility for well over a year. A larger-scale Gen2-size prototype is currently being installed in the customer facility. In the event of the successful qualification of the equipment, a customer order for a first production size OVPD deposition chamber is expected to be received in 2019.
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