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.