EWING, N.J. & ULSAN, South Korea--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ:PANL), a leading OLED licensor and supplier of materials and technologies for energy-efficient OLED displays and lighting, and Duksan Hi-Metal Company Limited (KOSDAQ:077360), a leading Korea-based manufacturer of electronic materials for OLEDs, announced today that the companies have entered into a master services agreement to enhance Universal Display’s local presence and expansion in Korea. As the first initiative under the agreement, Duksan will provide manufacturing services for one of Universal Display’s host products for certain Korean customers. Universal Display and Duksan will also explore additional areas for collaboration to better serve and support the needs of the growing Korean OLED industry.
“We are very happy to cooperate with Universal Display. This agreement will be mutually beneficial to both companies and it is expected that there will be substantial synergy effects between both of us, global leaders in the OLED material industry,” said Byoung Joo Kang, Chief Executive Officer of Duksan Hi-Metal. “There’s no doubt that especially both companies will contribute to the development of the OLED industry through the works derived from two companies long mass-production experience and technical know-how.”
“We are very pleased to announce this strategic collaboration with Duksan Hi-Metal, a leading Korean-based manufacturer of electronic materials for the OLED industry. Duksan has built a very impressive team and a state-of-the-art OLED manufacturing facility to produce cost-effective OLED products using high-quality manufacturing standards,” said Mr. Steven V. Abramson, President and Chief Executive Officer at Universal Display. “It is important to grow our company’s local presence in Korea, and this new relationship helps support the growth of Universal Display’s high-performance products and the expansion of OLED manufacturing infrastructure in Korea.”
Duksan Hi-Metal is a leading company in high-performance OLED technology and material in terms of Hole Transport Layer (HTL) material and also has a state-of-art OLED manufacturing facility with a ton-based capacity.
Universal Display is the recognized leader in high-performance, energy-efficient phosphorescent OLED technology and materials that offer up to four times the efficiency of conventional OLED technology. The AMOLED market, with much of its existing and anticipated OLED manufacturing base located in Korea, is estimated to double again to almost $6 billion this year. This relationship with Duksan in Korea complements Universal Display’s long-term exclusive materials manufacturing relationship with PPG Industries and will bring Universal Display closer to its customer base, enhancing its ability to support their current and future needs.
Universal Display and Duksan are also pleased to announce that they have mutually agreed to seek dismissal of all pending patent invalidation proceedings involving the two companies in Korea.
To see how Universal Display is changing the face of the display and lighting industries with its UniversalPHOLED®, white OLED and flexible OLED technologies, please visit the company at www.universaldisplay.com.
About Duksan Hi-Metal Company Limited
Duksan Hi-Metal (KOSDAQ: 077360) is a global leader in developing and distributing organic light emitting device (OLED) technologies and services and semiconductor packaging materials such as solder ball, solder powder, conductive ball. Founded in 1999 and listed in 2005, Duksan Hi-Metal supplies OLED materials (HTL and HIL) to Samsung Display and solder ball to SEC, SK Hynix and overseas customers. Duksan Hi-Metal’s main business had been solder ball until August 31, 2009 when Duksan Hi-Metal merged LUDIS into its EL Material Division. AMOLED material accounted for half of its total revenue in 2011. Duksan Hi-Metal is a major supplier of HTL material to Samsung Display and of solder ball to SEC. Duksan Hi-Metal develops and delivers high-performance and price-competitive products that can enable the sustainable growth of the OLED and Semiconductor industries.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 2,700 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED technology that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display, please visit www.universaldisplay.com.
Universal Display Corporation and the Universal Display logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to Universal Display Corporation’s technologies and potential applications of those technologies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s annual report on Form 10-K for the year ended December 31, 2011. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.