{"id":516123,"date":"2021-07-22T04:33:10","date_gmt":"2021-07-22T08:33:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oled-material-manufacturing-ppg-announce-multi-million-euro-investment-up-to-100-new-jobs-in-shannon\/"},"modified":"2021-07-22T04:33:10","modified_gmt":"2021-07-22T08:33:10","slug":"oled-material-manufacturing-ppg-announce-multi-million-euro-investment-up-to-100-new-jobs-in-shannon","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oled-material-manufacturing-ppg-announce-multi-million-euro-investment-up-to-100-new-jobs-in-shannon\/","title":{"rendered":"OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon"},"content":{"rendered":"

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OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon<\/b><\/p>\n

SHANNON, Ireland–(BUSINESS WIRE<\/a>)–Universal Display Corporation<\/a> (Nasdaq: OLED) and PPG<\/a> (NYSE: PPG) today announced that OLED Material Manufacturing Ltd. (OM2<\/sup>) and PPG are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. The facility, which was announced in February 2021, will broaden the global footprint and increase the production of Universal Display Corporation\u2019s (UDC) energy-efficient, high-performing UniversalPHOLED\u00ae<\/sup><\/a>materials to meet growing organic light emitting diode (OLED) market demand and evolving industry requirements.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210722005238\/en\/<\/a><\/p>\n

\"OLED<\/p>\n

OLED Material Manufacturing Ltd. (OM2) and PPG (NYSE: PPG) today announced that they are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. Pictured at Government Buildings are (L-R) An T\u00e1naiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD; Martin Shanahan, CEO, IDA Ireland; Austin McCabe, Director, OLED Material Manufacturing Limited; and Gerry Cahill, PPG Plant Manager, Shannon. Photo: Maxwell Photography.<\/p>\n<\/div>\n

\nThe announcement was welcomed by T\u00e1naiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, who said, \u201cThis major announcement by OLED Material Manufacturing and PPG is a welcome boost to the Mid-West region. It will make a significant contribution to Shannon and the Irish economy in terms of job creation, investment and innovation. Technology is one of the fastest-growing sectors here in Ireland and globally, and I wish the team continued success.\u201d\n<\/p>\n

\nAustin McCabe, Director, OLED Material Manufacturing Limited, said, \u201cOur manufacturing expansion in Ireland allows UDC to strengthen its mission, which centers on enabling our customers and fostering the proliferation of energy-efficient OLED display and lighting applications in the consumer landscape. Leveraging UDC Ireland\u2019s presence, the site\u2019s infrastructure and the Mid-West region\u2019s top-level talent, we are excited about the new Shannon facility. Together with our long-term partner, PPG, this multi-million-euro investment will expand the global manufacturing footprint for UDC\u2019s proprietary state-of-the-art phosphorescent emissive materials to meet the substantial growth forecasted for the OLED market.\u201d\n<\/p>\n

\nGerry Cahill, PPG Plant Manager, Shannon, said, \u201cThis project will bring a broad spectrum of jobs, a large number of which are highly skilled, to the Mid-West region. PPG has been producing high-performance OLED materials for UDC for the past 20 years. The expansion into Ireland with the addition of the Shannon facility shows confidence in not only the UDC-PPG partnership but also in Ireland as a place in which to invest and do business. In this regard, we are thankful for the support of the Irish Government through IDA Ireland.\u201d\n<\/p>\n

\nMartin Shanahan, CEO, IDA Ireland, said, \u201cThis decision by OLED Material Manufacturing and PPG to invest in Shannon demonstrates the companies\u2019 confidence in the availability of a skilled and talented workforce in the Mid-West Region. This announcement is further evidence of IDA Ireland\u2019s continued commitment to winning jobs and investment for regional locations. I wish OLED Material Manufacturing and PPG every success as they progress with their manufacturing site in Shannon.\u201d\n<\/p>\n

\nPPG is the longstanding partner and exclusive manufacturer of UDC\u2019s UniversalPHOLED emitter materials. OLED Material Manufacturing Limited is a wholly-owned subsidiary of UDC Ireland Ltd., which is a subsidiary of UDC. Facility renovations and regulatory approvals at the Shannon site are expected to be completed in the next 12 months so that operations can commence in 2022.\n<\/p>\n

PPG: WE PROTECT AND BEAUTIFY THE WORLD\u2122
\n
<\/b>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\u2019 biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com<\/a>.\n<\/p>\n

We protect and beautify the world<\/i> is a trademark and the PPG Logo<\/i> is a registered trademark of PPG Industries Ohio, Inc.\n<\/p>\n

Universal Display Corporation
\n
<\/b>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, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED\u00ae phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https:\/\/oled.com\/<\/a>.\n<\/p>\n

\nUniversal 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.\n<\/p>\n

All statements in this document that are not historical, such as those relating to Universal Display Corporation\u2019s and PPG\u2019s technologies and potential applications of those technologies, both Companies\u2019 expected results and future declaration of dividends, the expected timing and benefits of the Shannon manufacturing site, including the expected number of jobs created, as well as the growth of the OLED market and the Company\u2019s 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\u2019s and PPG\u2019s 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\u2019s and PPG\u2019s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the sections entitled \u201cRisk Factors\u201d in Universal Display Corporation\u2019s and PPG\u2019s Annual Reports on Form 10-K for the year ended December 31, 2020 and 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.<\/i><\/p>\n

Follow Universal Display Corporation<\/b><\/p>\n

Twitter
\n<\/a>
Facebook
\n<\/a>
YouTube<\/a><\/p>\n

\n(OLED-C)\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210722005238\/en\/<\/a><\/span><\/p>\n

OLED Material Manufacturing Ltd Contact:
\n<\/b>
Darice Liu
\n
Senior Director
\n
investor@oled.com
\n<\/a>
media@oled.com
\n<\/a>
+1 609-964-5123\n<\/p>\n

PPG Contacts:
\n<\/b>
John Bruno
\n
Vice President, Investor Relations
\n
jbruno@ppg.com
\n<\/a>
+1 412-434-3466\n<\/p>\n

\nBrande Juart
\n
Specialty Coatings and Materials
\n
juart@ppg.com
\n<\/a>
+1 724-325-5203\n<\/p>\n

AM O\u2019Sullivan PR Ltd Contact:
\n<\/b>
Ann-Marie O\u2019Sullivan
\n
Chief Executive
\n
annmarie@amosullivanpr.ie
\n<\/a>
+353 (86) 8188163\n<\/p>\n

KEYWORDS:<\/b> Europe Ireland United States North America Pennsylvania New Jersey<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Nanotechnology Human Resources Manufacturing Finance Alternative Energy Energy Professional Services Environment Other Technology Hardware Other Manufacturing Semiconductor Consumer Electronics<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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OLED Material Manufacturing Ltd. (OM2) and PPG (NYSE: PPG) today announced that they are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. Pictured at Government Buildings are (L-R) An T\u00e1naiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD; Martin Shanahan, CEO, IDA Ireland; Austin McCabe, Director, OLED Material Manufacturing Limited; and Gerry Cahill, PPG Plant Manager, Shannon. Photo: Maxwell Photography.<\/font><\/td>\n<\/tr>\n
Photo<\/b><\/font><\/td>\n<\/tr>\n
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UniversalPHOLED energy-efficient materials invented and developed by Universal Display Corporation and produced by exclusive manufacturing partner PPG. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n
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<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon SHANNON, Ireland–(BUSINESS WIRE)–Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) today announced that OLED Material Manufacturing Ltd. (OM2) and PPG are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. The facility, which was announced in February 2021, will broaden the global footprint and increase the production of Universal Display Corporation\u2019s (UDC) energy-efficient, high-performing UniversalPHOLED\u00aematerials to meet growing organic light emitting diode (OLED) market demand and evolving industry requirements. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210722005238\/en\/ OLED Material Manufacturing Ltd. (OM2) and PPG (NYSE: PPG) today announced that … <\/p>\n

Continue reading “OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-516123","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oled-material-manufacturing-ppg-announce-multi-million-euro-investment-up-to-100-new-jobs-in-shannon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon SHANNON, Ireland–(BUSINESS WIRE)–Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) today announced that OLED Material Manufacturing Ltd. 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(OM2) and PPG are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. The facility, which was announced in February 2021, will broaden the global footprint and increase the production of Universal Display Corporation\u2019s (UDC) energy-efficient, high-performing UniversalPHOLED\u00aematerials to meet growing organic light emitting diode (OLED) market demand and evolving industry requirements. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210722005238\/en\/ OLED Material Manufacturing Ltd. 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