02.06.17
PPG and Universal Display Corporation (Nasdaq: OLED) today announced that Universal Display will invest $15 million in PPG’s Barberton, Ohio, manufacturing facility to double commercial production capacity for Universal Display’s proprietary UniversalPHOLED® phosphorescent emitter products. The expansion project, which will add more than 20 positions at the facility, is scheduled to be completed in the third quarter 2017.
Universal Display Corporation is a leading supplier of phosphorescent organic light-emitting diode (OLED) materials, which are used to produce high-performance, thin, energy-efficient displays for personal electronics (televisions, smartphones and tablets) and solid-state lighting applications. PPG is the exclusive manufacturer for Universal Display of UniversalPHOLED emitter materials that enable the development of low-power and eco-friendly displays and lighting.
PPG and Universal Display opened an OLED materials production facility at PPG’s Barberton, Ohio, plant in 2013. The site, which PPG owns and operates, provides the two companies with resources to meet the growing OLED needs of customers in the display and lighting industries.
“We are proud of the continued growth of this world-class production facility for OLED materials,” said Viktor Sekmakas, PPG executive vice president. “This expansion furthers our partnership with Universal Display, our commitment to the ongoing development of this important technology, and our capability to meet customers’ increasing demand for energy-efficient displays and lighting devices.”
Steven V. Abramson, president and chief executive officer of Universal Display Corporation, said, “We believe the OLED industry is entering an exciting multiyear capital expenditure cycle. With the anticipated robust rise of high-volume OLED display manufacturing capacity in the coming years, we expect this latest investment will help meet our customers’ increasing needs for our high-quality, state-of-the-art PHOLED materials. The Barberton expansion reflects strong demand for Universal Display’s innovative, high-performance phosphorescent materials and PPG’s best-in-class manufacturing expertise. Together, we have built an excellent operation to develop and efficiently commercialize leading-edge, next-generation red, green, yellow and blue emitters, and to foster the continued growth of the OLED display and lighting markets.”
In 2000, PPG established a strategic relationship with Universal Display for the commercialization and production of UniversalPHOLED materials. The Barberton plant, which PPG opened in 1900 and which currently employs more than 150 people, also produces: specialty materials such as optical casting resins used for eyewear applications; TESLIN® substrate, which is used in applications such as security and loyalty cards, electronic passports and specialized labels; and design silica products used in the manufacture of paints, tires and reinforced rubber products.
Universal Display Corporation is a leading supplier of phosphorescent organic light-emitting diode (OLED) materials, which are used to produce high-performance, thin, energy-efficient displays for personal electronics (televisions, smartphones and tablets) and solid-state lighting applications. PPG is the exclusive manufacturer for Universal Display of UniversalPHOLED emitter materials that enable the development of low-power and eco-friendly displays and lighting.
PPG and Universal Display opened an OLED materials production facility at PPG’s Barberton, Ohio, plant in 2013. The site, which PPG owns and operates, provides the two companies with resources to meet the growing OLED needs of customers in the display and lighting industries.
“We are proud of the continued growth of this world-class production facility for OLED materials,” said Viktor Sekmakas, PPG executive vice president. “This expansion furthers our partnership with Universal Display, our commitment to the ongoing development of this important technology, and our capability to meet customers’ increasing demand for energy-efficient displays and lighting devices.”
Steven V. Abramson, president and chief executive officer of Universal Display Corporation, said, “We believe the OLED industry is entering an exciting multiyear capital expenditure cycle. With the anticipated robust rise of high-volume OLED display manufacturing capacity in the coming years, we expect this latest investment will help meet our customers’ increasing needs for our high-quality, state-of-the-art PHOLED materials. The Barberton expansion reflects strong demand for Universal Display’s innovative, high-performance phosphorescent materials and PPG’s best-in-class manufacturing expertise. Together, we have built an excellent operation to develop and efficiently commercialize leading-edge, next-generation red, green, yellow and blue emitters, and to foster the continued growth of the OLED display and lighting markets.”
In 2000, PPG established a strategic relationship with Universal Display for the commercialization and production of UniversalPHOLED materials. The Barberton plant, which PPG opened in 1900 and which currently employs more than 150 people, also produces: specialty materials such as optical casting resins used for eyewear applications; TESLIN® substrate, which is used in applications such as security and loyalty cards, electronic passports and specialized labels; and design silica products used in the manufacture of paints, tires and reinforced rubber products.
