Alliance strengthened as demand for energy-efficient, high-performing phosphorescent OLED materials grows
PITTSBURGH–(BUSINESS WIRE)–PPG (NYSE: PPG) and Universal Display Corporation (Nasdaq: OLED) today announced the 20-year anniversary of their strategic partnership to produce Universal Display’s proprietary phosphorescent OLED (UniversalPHOLED®) materials. The long-standing collaboration between the two industry-leading companies focuses on seamlessly delivering energy-efficient, high-performing, high-quality innovative products to OLED display and lighting panel customers around the world.
Universal Display Corporation (UDC) is a leading supplier of phosphorescent organic light-emitting diode (OLED) materials and technologies, which are used to produce high-performance, thin, energy-efficient displays for consumer electronic products, including smartphones, televisions and tablets, and for power-efficient, soft emission solid-state lighting applications. PPG is the exclusive manufacturer of UDC’s UniversalPHOLED emitter materials that enable the development of low-power and eco-friendly displays and lighting.
The two companies began their partnership in 2000, when televisions were using cathode-ray tubes and OLEDs were in the early research and development stage. Since then, the global OLED market has grown, and PPG and UDC have expanded production capacity from PPG’s Monroeville, Pa., facility to its Barberton, Ohio, site.
“We are very pleased to celebrate our 20-year partnership with PPG,” said Steven V. Abramson, Universal Display Corporation president and chief executive officer. “Through these two decades, as OLEDs evolved from an idea to now a mainstream player in the consumer electronics market, UDC and PPG have built a successful relationship of close collaboration, as well as a wealth of manufacturing expertise and know-how. Today, the phosphorescent emitters that UDC discovers, designs and develops and PPG skillfully manufactures to the highest standards can be found in essentially every commercial OLED product. With the OLED market’s strong long-term trajectory, we believe that our extraordinary partnership will continue to drive growth, incredible value for our customers, and innovative solutions for the marketplace.”
“We are proud to mark this historic milestone in our long strategic partnership with Universal Display Corporation,” said Michael H. McGarry, PPG chairman and chief executive officer. “As the demand for OLED materials has increased over the past few years, so has the depth of our relationship. Our partners at Universal Display are innovation leaders in the industry, and their customer-centric approach to create mutual value closely aligns with ours.”
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light-emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. To learn more about Universal Display Corporation, please visit https://oled.com.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.1 billion in 2019. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
All statements in this document that are not historical, such as those relating to Universal Display Corporation’s and PPG’s technologies and potential applications of those technologies, both Companies’ expected results as well as the growth of the OLED and CRO market and the Companies’ opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s and PPG’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s and PPG’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s and PPG’s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation and PPG each disclaim any obligation to update any forward-looking statement contained in this document.
We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.
Universal Display Corporation and UniversalPHOLED are trademarks or registered trademarks of Universal Display Corporation.
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