PPG (NYSE:PPG) and Universal Display Corporation (Nasdaq:OLED) announced the completion of Universal Display’s $15 million investment in PPG’s Barberton, Ohio, manufacturing facility.
The investment doubles commercial production capacity for Universal Display’s proprietary UniversalPHOLED® phosphorescent emitters, and will add more than 20 positions at the facility.
Universal Display Corporation (UDC) is a leading supplier of phosphorescent organic light-emitting diode (OLED) materials. These state-of-the-art materials are used to produce high-performance, thin, energy-efficient displays that provide vibrant color for consumer electronics and solid-state lighting applications. PPG is the exclusive manufacturer for Universal Display’s UniversalPHOLED emitter materials.
The expansion increases production capabilities at PPG’s Barberton plant, where an initial OLED manufacturing line was completed in 2013. The additional production capacity will help meet the growing demand for next-generation OLED displays for smartphones, tablets and televisions. The site, which PPG owns and operates, provides the two companies with resources to meet the needs of major customers in the display and lighting industries.
“PPG is incredibly proud to unveil the new OLED materials production unit,” said Michael McGarry, PPG chairman and CEO. “This facility showcases the dedication and commitment of our teams to deliver high-quality materials and innovative technologies. We are excited to partner with UDC on this expansion and we look forward to many more years of continued success together.”
“UDC is extremely pleased with our strong partnership with PPG for more than 15 years to deliver cutting-edge technological advances in OLED materials for our customers,” said Steven V. Abramson, Universal Display Corporation president and CEO. “Our relationship allows us to combine PPG’s specialty materials manufacturing expertise with our innovative, high-performance phosphorescent materials technology. With the adoption of OLEDs expected to grow for the foreseeable future, we’re delighted to unveil the expanded OLED production facility at PPG’s Barberton, Ohio, plant.”
In 2000, PPG established a strategic relationship with Universal Display for the commercialization and production of UniversalPHOLED materials. The PPG Barberton plant opened in 1900 and currently employs about 160 people. It produces a wide range of specialty materials, such as CR-39® and TRIVEX® lens materials; TESLIN® substrate used in print and laminated materials; and silica products used in coatings, adhesives and sealants. PPG employs more than 2,500 people in Ohio across 12 facilities. Locally, the company supports the University of Akron, College of Engineering with grants for the Women in Engineering (WIE), Increasing Diversity in Engineering Academics (IDEAs) and Corrosion programs.
About Universal Display Corporation
Universal Display Corporation (Nasdaq:OLED) is a leader in developing and delivering state-of-the-art, organic light-emitting diode (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, UDC currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 4,500 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 lighting. UDC 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.
Headquartered in Ewing, New Jersey, with international offices in China, Hong Kong, Ireland, Japan, South Korea, and Taiwan, and wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. UDC has also established relationships with companies such as AU Optronics Corporation, BOE Technology, DuPont Displays, Inc., EverDisplay Optronics (Shanghai) Limited, Innolux Corporation, Japan Display Inc., Kaneka Corporation, Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer Corporation, Samsung Display Co., Ltd., Sumitomo Chemical Company, Ltd., Tianma Micro-electronics and Tohoku Pioneer Corporation. To learn more about Universal Display, visit www.oled.com.
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At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 130 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $14.3 billion in 2016. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
