Solvay acquires Plextronics to accelerate OLED developments
As part of the Solvay’s expansion plans for the OLED market the company is also launching a new development platform with a strong Asian foothold.
The Plextronics acquisition enables Solvay to expand the company’s know-how in emerging applications such as OLED TV screens, OLED lighting and in lithium-ion batteries.
In addition Solvay is setting up a new electronics laboratory at its research center at Ewha Woman’s University in Seoul City, South Korea. The lab will bring its advanced solutions closer to market and speed up joint development activities with customers as well as with existing and potential partners.
“The acquisition of Plextronics is an important milestone in growing our OLED capabilities,” explained Bill Chen, General Manager of Solvay OLED incubator. “Solvay’s own OLED know-how will be reinforced thanks to Plextronics’ complementary technologies and dedicated staff. With the creation of the Solvay OLED incubator, we aim to evolve into a new business and strengthen our presence in Asia, mainly in South Korea.”
The completion of the acquisition comes two weeks after the U.S. bankruptcy court in Delaware approved Solvay’s offer for Plextronics, a startup that was founded in 2002. Solvay has been a longtime investor in the Pittsburgh, Pennsylvania-based company.
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