The integration of Adesis has progressed extremely well and we believe the purchase of the building is the next step in facilitating the business' long-term growth plans. This will also support our increasing technical capabilities, as we expand our OLED
Universal Display Corporation has announced that its wholly-owned subsidiary - Adesis Inc. - has purchased its New Castle, Delaware building, to expand its custom organic synthesis, research and development, and speciality manufacturing capabilities.
The New Castle, Delaware facility is a 47,500-square-foot building in the Southgate Industrial Centre, of which Adesis had previously leased about 25,100 square feet.
Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation, said, "We are pleased to help scale up Adesis' operations as it continues to grow its CRO (contract research organization) work in supporting the pharmaceutical, chemical, biomaterials, and catalysts industries." Steven added, "The integration of Adesis has progressed extremely well and we believe the purchase of the building is the next step in facilitating the business' long-term growth plans. This will also support our increasing technical capabilities, as we expand our OLED product portfolio for new red, green, yellow and blue emitters and hosts."
Andrew Cottone, President of Adesis, Inc, said, "This is an exciting time of growth for Adesis." Andrew added, "We are fortunate to have the support of our parent company Universal Display Corporation, as we grow our business across all our end markets. The purchase of the building creates an opportunity to increase our critical mass and expand our CRO offerings, while continuing to enhance Universal Display’s chemistry expertise and capabilities."
About Universal Display Corp
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 4,200 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 solid-state 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.
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. The Company has also established relationships with companies such as AU Optronics Corporation, BOE Technology, DuPont Displays, Inc., Innolux Corporation, 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.
Source: Universal Display Corp
About Adesis
As a wholly-owned subsidiary of Universal Display Corporation, Adesis, Inc. is a contract research organization (CRO) supporting the pharma, biotech, catalysis and a number of other industries. The CRO specializes in organic and organometallic synthesis, in milligrams to multi-kilogram quantities. Adesis has a business model of providing clients with organic chemistry services in three areas: early stage research, scale up and development, and specialty manufacturing.
With over 20 years of success and currently over 50 chemists with extensive industry and professional experience, Adesis supports companies in various industries with small molecule organic chemistry expertise. Adesis provides a range of services that can supplement research and development efforts. It can also act as a specialty manufacturer to reinforce supply chains.
Source: Adesis
