Rohm and Haas is to acquire Eastman Kodak’s Light Management Films business.
Light management films are specialty materials used to improve light utilisation in flat panel displays. Kodak has established a position as a supplier to display manufacturers based on the company’s proprietary materials science and image science technology.
Rohm and Haas will acquire manufacturing assets in Rochester, New York, as well as intellectual property used exclusively in the business. Kodak will license to Rohm and Haas other intellectual property under a royalty-bearing license, as well as supply the business with key raw materials.
About 125 employees associated with the business in Rochester, Taiwan, China, Japan, and Korea are expected to join Rohm and Haas Electronic Materials upon closing of the transaction.
“Over the last couple of years, the employees in Light Management Films have built this from a startup business to one that is now beginning to enjoy significant commercial success and has great promise for the future,” said Mary Jane Hellyar, President, Film Products Group, and Senior Vice President, Eastman Kodak Company. “However, to realise that promise, the business needs significant additional investment in the near term, and as we were pursuing funding alternatives, Rohm and Haas expressed their interest in the business.”
The transaction is expected to close in the first half of 2007.