PPG Industries (NYSE: PPG) and Universal Display Corporation (Nasdaq: OLED) today marked the opening of a world-class organic light-emitting diode (OLED) materials production facility at PPG’s Barberton, Ohio plant. This new site, which PPG owns and operates, commenced manufacturing earlier this month and will foster the expanded development and production of Universal Display’s phosphorescent OLED (UniversalPHOLED®) materials. Universal Display is the leading supplier of phosphorescent OLED materials, which are used to produce high-performance, thin, energy-efficient display and lighting products, including smartphones, televisions, and solid-state lighting applications. PPG is Universal Display’s exclusive manufacturer of UniversalPHOLED emitter materials, which offer significant advantages over conventional OLED technologies. The new facility provides the two companies with the resources to meet the high-volume needs of the growing OLED display and lighting industries. The state-of-the-art production facility reinforces PPG’s long-term commitment to manufacturing in Ohio. “We are proud to announce the opening of a world-class production facility for OLED materials at PPG’s Barberton, Ohio, plant,” said Charles E. Bunch, PPG Chairman and CEO. “This investment furthers our commitment in this growing technology area and expands our partnership with Universal Display. As the market demand for energy-efficient, high-performance OLED displays and lighting devices continues to grow, we are better prepared today to meet their needs.” “Congratulations to PPG on the opening of the new OLED Production Area. This new state-of the art facility builds upon a 113 year history in Barberton, and will expand PPG’s capabilities to produce energy efficient OLED display and lighting devices,” said U.S. Senator Rob Portman (R-Ohio). “I have introduced the Energy Savings and Industrial Competitive Act (ESIC), which will make it easier for employers to use energy-efficient tools, help them reduce their costs, and hire new workers. I am thankful for PPG’s support on ESIC, and look forward to working with them to promote a more energy-efficient economy while driving economic growth and encouraging private sector job creation.”
“This partnership between PPG Industries and Universal Display Corporation is a significant expansion project for Ohio, connecting two of the state's targeted sectors — advanced manufacturing and polymers — which will further strengthen Ohio's position in those industries both nationally and around the world," said David Mustine, JobsOhio Managing Director for Polymers and Chemicals.PPG and Universal Display established a strategic relationship in 2000 for the commercialization and production of UniversalPHOLED materials. “We are extremely pleased to expand our partnership with PPG, a valuable partner as we increase our portfolio of OLED technologies and materials,” said Steven V. Abramson, President and CEO of Universal Display. “As our customers ramp up production of OLED displays and lighting devices, this new facility will enable us to produce and deliver greater volumes of the most cutting-edge PHOLED materials to meet their growing requirements.” The Barberton plant, which PPG opened in 1900, produces a variety of specialty materials such as optical casting resins for eyewear applications; TESLIN(R) substrate, which is used for security and loyalty cards, electronic passports and other applications; and design silicas used in the manufacture of paints, tires and reinforced rubber products. PPG: BRINGING INNOVATION TO THE SURFACE.(TM) PPG Industries' vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. For more information, visit www.ppg.com and follow @PPGIndustries on Twitter. 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, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 3,000 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.udcoled.com. Bringing innovation to the surface is a trademark and Teslin is a registered trademark of PPG Industries Ohio, Inc. Universal Display Corporation, the Universal Display logo and UniversalPHOLED are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
Forward-Looking StatementsAll statements in this document that are not historical, such as those relating to Universal Display Corporation’s technologies and potential applications of those technologies, the Company’s expected results as well as the growth of the OLED market and the Company’s opportunities in that market, 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, 2012. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.