Display Technologies Inc. (fka DTEK)

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News Again Today...Rohm and Haas Company and SKC Inc form joint venture for flat panel display industry

Wednesday, August 15, 2007 09:45ET

Aug 15, 2007 (M2 EQUITYBITES via COMTEX) -- Rohm and Haas Company (NYSE:ROH), a technologies and solutions company, and SKC Inc, a member of SK business group which runs energy, chemicals, telecomms, trading and services businesses, declared on 14 August that they have formed a joint venture to develop, manufacture and market advanced optical and functional films used in the flat panel display industry.

The new joint venture will allow SKC to spin-off its Display Technologies business into a separate legal entity. The transaction is expected to close in the fourth quarter of 2007 pending approval by regulatory authorities.

Rohm and Haas will invest approximately USD190m in the JV to become a 51% owner and have a controlling interest in the JV, which will be headquartered in Korea.

In total, Rohm and Haas will have invested approximately USD230m to build a new business unit, Flat Panel Display Technologies, within its Electronic Materials group, including the acquisition of Eastman Kodak Company's Light Management Films business earlier this year. Overall sales of the new business unit are expected to be approximately USD350m in 2008.

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As of Saturday, 08-11-2007 23:59, the latest Comtex SmarTrend® Alert,
an automated pattern recognition system, indicated a DOWNTREND on
03-14-2007 for ROH @ $50.50.

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Public Companies Associated with this story:
DTEK ROH SKCCF