Electronics Production |
CDT & Sumitomo forms joint venture
UK-based Cambridge Display Technology (CDT) and Sumitomo Chemical have signed a memorandum of understanding which will lead to the formation of a new joint venture company to develop and supply advanced polymer OLED (P-OLED) materials and formulated inks for use in commercial P-OLED display and lighting applications.
The new company, to be based in Tokyo, Japan, will be owned equally by the two parent companies, and will have the largest concentration of P-OLED material development expertise and intellectual property (IP) in the OLED industry.
The parent companies will channel their existing P-OLED materials research and development activities into the new JV company, which will have access to the P-OLED material IP of the parent companies. Sumitomo has recently completed the acquisition of the Lumation™ business from The Dow Chemical Company, and will make available, on an exclusive basis, the polyfluorenes technology and IP of the Lumation business to the joint venture.
To ensure a smooth transfer of technology and to avoid disruption to customers, Sumitomo and Dow have agreed to cooperate in transitional period activities. P-OLED materials manufacture will ultimately be based in Japan.
The parties will work on a Definitive Agreement over the coming weeks in order to implement the non-binding memorandum of understanding.
