Rohm and Haas and SKC have formed a joint venture to develop, manufacture and market advanced optical films for liquid crystal and plasma displays.
As part of the new joint venture arrangement, SKC will spin-off its display technologies business into a separate legal entity.
Rohm and Haas’s investment in the joint venture is expected to be approximately $190m. For that, it will command a 51 percent controlling interest in the new company, which will be based in Korea. Sales are projected to be approximately $300m in the first year of operation.
Earlier in the year, Rohm and Haas purchased Eastman Kodak’s light management films business, and with the new venture, will have invested approximately $230m to build a new business unit to target flat panel display technologies. Overall sales of this new business unit are expected to be approximately $350m in 2008.
The deal is expected to close in the fourth quarter of 2007, pending approval by regulatory authorities.