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08-05-2010

Iridos: Fully Integrated Company

Solvay and the Korean producer of micro-electronics Nepes announced that their 50/50 joint venture Iridos is as from 2 August 2010 a fully integrated production company. Iridos was specialized in marketing and sales of pastes used in thin film transistor liquid crystal displays (TFT-LCD) and organic light emitting diodes (OLED) of the next generation.

Iridos’s activities encompass now R&D and production, next to marketing and sales. So far, since the founding of Iridos in 2009, R&D activities as well as production of pigments and pastes had still been in the hands of, respectively, Solvay and Nepes. The manufacturing of these products makes use of an extensive know how in nanotechnology.

Solvay’s and Nepes’s contribution to Iridos in terms of productive assets will exceed 20 billion South Korea Won (about 12 million EUR) over the years 2009 to 2011. Iridos’s production assets will consist of a brand-new plant on Solvay’s site in Onsan, South Korea, to manufacture pigments, and of Nepes’s facility for pastes manufacturing on its site of Ochang, South Korea, which is being upgraded and expanded. The worldwide market for TFT-LCD color pastes reaches about 300 billion KRW (200 million EUR). Until the establishment of Iridos, they were exclusively supplied by Japanese companies. Iridos will give the producers of TFT-LCDs and OLEDs the possibility to use the technology developed in Korea by Nepes and Solvay.

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