LG Chem, the petrochemicals and battery-making unit of LG Group, has taken over American chemical company DuPont’s technical assets for soluble organic light-emitting diodes to develop its next-generation displays, the company said Tuesday.
LG Chem said the acquis ion will include DuPont’s approximately 540 patented assets related to soluble OLED materials, key technologies and tangible assets including production facilities.
|LG Chem Vice Chairman Shin Hak-cheol (right) shakes hand with DuPont Vice Chairman Marc Doyle during an acquisition ceremony held at the LG Chem headquarters in Seoul on Friday. (LG Chem)|
The deal comes amid LG Chem’s establishment of a new business division to produce advanced materials.
While the companies did not disclose the exact amount for the deal, market insiders view the amount to likely be in excess of 200 billion won ($175.9 million).
Soluble OLED displays are manufactured by placing solution-type material on a panel using inkjet printing technology. By doing so, displays can maximize the color reproduction while minimizing material loss compared to other kinds of OLED displays.
OLED displays currently use the vacuum thermal evaporation method, applying heat and pressure into a vacuum to blend materials on the display panels.
LG Chem said through the latest technical asset acquisition the company will establish a stable supply system for high-tech display materials.
“We will now have the world’s best competitiveness in the field of soluble OLED materials. With thorough preparation, we will offer the best product,” said LG Chem’s Vice Chairman Shin Hak-cheol.
By Kim Da-sol (firstname.lastname@example.org)