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Sunday, 19 Nov 2017

Idemitsu and Doosan form cooperative partnership in OLED material business

Under this cooperative partnership, each company will be allowed to develop, manufacture and sell OLED materials in the area of the other company's material

11 Nov 2015 | Editor

Idemitsu Kosan and Doosan have recently concluded a Memorandum of Understanding that both parties intend to make a business arrangement in the area of both companies' OLED material-related patents and to cooperate in manufacturing.

Under this cooperative partnership, each company will be allowed to develop, manufacture and sell OLED materials in the area of the other company's material-related patents under certain conditions. This will lead to acceleration of the parties' respective development of OLED materials, as well as an expected increase in each party’s supply of new OLED materials to customers, by allowing each company to exploit the other company's undeveloped material areas with different knowledge and experience.

Through this cooperative partnership in both development and manufacturing, both companies will continue to strive for further expansion of the OLED market. The parties expect to conclude a definitive agreement for the cooperative partnership by 31 December 2015.

For Idemitsu, this cooperative partnership is the first full-scale alliance with a Korean OLED material company. Idemitsu decided to establish it because, through past partial cooperation, a relationship of trust has been developed between both companies and Idemitsu believes that both companies can leverage their respective strengths in OLED technology by this cooperative partnership.

For Doosan, this cooperative partnership with Idemitsu who has the best OLED technology in the world is important. Through the partnership, Doosan expects to expand the scope of its OLED material business and make it grow continuously.

Both Idemitsu and Doosan are consider themselves as leading OLED material companies and have been contributing to a recent expansion of the OLED market by continuing to supply improved high-performance materials to customers.

Each company owns a variety of patents related to OLED materials and its own manufacturing facilities.

Both companies also will seek ways to cooperate in OLED material manufacturing by efficiently utilising their respective manufacturing facilities.

  • Idemitsu has manufacturing plants in Omaezaki, Shizuoka, Japan and in Paju-city, Gyeonggi-do, South Korea
  • Doosan has a manufacturing plant in Iksan, Jeollabuk-do, South Korea

This will lead to cost reduction of OLED materials and improve each party's competitiveness in manufacturing.

www.doosan.com    www.idemitsu.co.jp   

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