Chemical and pharmaceutical company SOLVAY and the Korean producer of micro-electronics NEPES Company announce today they have agreed to establish IRIDOS, a joint venture aimed at marketing pastes used in thin film transistor liquid crystal displays (TFT-LCD) and organic light emitting diodes (OLED) of the next generation.
IRIDOS will market pastes produced by NEPES in Ochang on the basis of pigments made by SOLVAY in Onsan, both sites being located in South Korea. The manufacturing of these products makes use of an deep know how in nano-technology.
It is the intention that NEPES’s pastes production facility and SOLVAY’s pigments production facility will in due time be contributed to IRIDOS, which accordingly would over the next years invest up to 22 billion South Korea Won (11.8 million EUR).
The world-wide market for TFT-LCD and OLED color pastes reaches about 300 billion KRW (161 million EUR). The establishment of IRIDOS will give the producers of TFT-LCDs and OLEDs the possibility to use the technology developed in Korea by NEPES and SOLVAY.
By bringing its organic pigment and nanotechnology know-how to IRIDOS, SOLVAY offers the LCD and OLED producers in the Far East an access to its high-tech chemical products that will enable them to develop the next generation of their micro-electronic devices; this will be complemented by NEPES bringing its dispersion technology for nano-particles and its direct access to its customers to the joint venture. This combination will create a new business model.