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News Article

New European joint venture to focus on flat panel display industry

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Rohm and Haas Company and SKC, Incorporated, have announced the formation of a joint venture that will develop, manufacture and market advanced optical and functional films used in the flat panel display industry.
Rohm and Haas Company and SKC, Incorporated, have announced the formation of a joint venture that will develop, manufacture and market advanced optical and functional films used in the flat panel display industry. The joint venture will provide a portfolio of films used in advanced liquid crystal and plasma displays.As part of the new joint venture arrangement, SKC will spin-off its Display Technologies business into a separate legal entity. Rohm and Haas will invest to become a 51 percent owner in the new company. Closing of this transaction is expected to occur in the fourth quarter of 2007."Today's announcement is the next major step in building our Flat Panel Display Technologies business," said Dr. Yi Hyon Paik, vice president and business group director, Rohm and Haas Electronic Materials," Paik concluded."We're pleased to be entering into an exciting, new future with SKC and Rohm and Haas," said Mr. Jang Suk Park, president, SKC, Incorporated. "This joint venture brings the strength of two companies under one roof. SKC brings a broad line-up of film technologies to the new JV, as well as manufacturing capability and customer relationships throughout Asia," Park said. "We are looking forward to working with Rohm and Haas over the coming months to launch and introduce this new joint venture to the flat panel industry."Rohm and Haas will have a controlling interest in the JV, which will be headquartered in Korea. Sales are projected to be approximately $300 million (U.S.) in the joint venture's first year of operation.Dr. Pierre Brondeau, Rohm and Haas executive vice president and business group executive, Electronic Materials and Specialty Materials, said the JV is an important addition to the company's growing Electronic Materials franchise."The new joint venture combines two companiesthat complement each other," Brondeau added. "It represents another critical element in expanding Rohm and Haas Electronic Materials and our presence in the high growth flat panel industry."Products developed, manufactured and marketed by the joint venture will include a suite of specialty display films for liquid crystal (LCD) and plasma displays. The JV also will include dispersions of pigments, key ingredients used to manufacture LCD colour filter plates.
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