{"id":759455,"date":"2023-05-18T01:03:01","date_gmt":"2023-05-18T05:03:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/universal-display-corporation-and-ppg-celebrate-opening-of-state-of-the-art-oled-manufacturing-site-in-shannon-ireland\/"},"modified":"2023-05-18T01:03:01","modified_gmt":"2023-05-18T05:03:01","slug":"universal-display-corporation-and-ppg-celebrate-opening-of-state-of-the-art-oled-manufacturing-site-in-shannon-ireland","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/universal-display-corporation-and-ppg-celebrate-opening-of-state-of-the-art-oled-manufacturing-site-in-shannon-ireland\/","title":{"rendered":"Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland"},"content":{"rendered":"

<\/p>\n

Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland<\/b><\/p>\n

Initial 10 million euro investment launches multiyear, multiphase expansion plan for production of energy-efficient phosphorescent OLED materials<\/i><\/p>\n

SHANNON, Ireland–(BUSINESS WIRE<\/a>)–Universal Display Corporation<\/a> (Nasdaq: OLED) (UDC) and PPG<\/a> (NYSE: PPG) today officially opened a new state-of-the-art organic light-emitting diode (OLED) manufacturing facility in Shannon, Ireland. This County Clare site is expected to double the production capacity and further diversify the worldwide manufacturing footprint for UDC\u2019s energy-efficient phosphorescent OLED emissive materials for the growing OLED market. UDC\u2019s initial investment of 10 million euros, and subsequent multimillion-euro expenditures and multiyear, multiphase expansions of the site are expected to have a significant positive economic impact on the region.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230517005788\/en\/<\/a><\/p>\n

\"Universal<\/p>\n

Universal Display Corporation and PPG’s new state-of-the-art OLED manufacturing site in Shannon, Ireland. (Photo: Business Wire)<\/p>\n<\/div>\n

\nPPG produces UDC\u2019s highly-efficient, high-performing UniversalPHOLED\u00ae<\/sup><\/a> materials. There are currently 50 people working at the new production site, and the headcount is expected to increase up to 100 as further investments roll out. The high-tech roles at the Shannon facility include engineering and operational disciplines, supply chain roles, synthetic chemists, and analytical technicians.<\/p>\n

\nPPG has been UDC\u2019s exclusive manufacturer of phosphorescent OLED emitter materials since 2000. Broadening global manufacturing operations in Ireland builds on that longstanding partnership. The new facility in Shannon expands upon PPG\u2019s established OLED production facilities located in Monroeville, Pa., and Barberton, Ohio.<\/p>\n

\nSpeaking at the event to mark the official opening, Norma Foley TD, Minister for Education, said, \u201cThe opening of this state-of-the-art new facility in Shannon is a significant development for the Mid-West region and is an endorsement of the Government\u2019s continued focus on science, technology, engineering, and maths (STEM) academic programmes and the calibre of workforce we have here in Ireland. By working in partnership, PPG and UDC have grown exponentially, broadening global manufacturing operations in Ireland, building on successful foundations and developing this impressive Shannon facility. I would like to congratulate UDC and PPG on the opening of this high-tech facility and wish them every success in the future.\u201d<\/p>\n

\n\u201cWe are delighted to celebrate the opening of our new OLED manufacturing site with PPG, our long-term partner of more than two decades, as well as esteemed Ireland elected officials, key associations and colleagues,\u201d said Steven V. Abramson, president and CEO of Universal Display Corporation. \u201cThis new site represents a major infrastructure investment for the future of the OLED industry. The region\u2019s great workforce talent, driven by strong education systems here in Ireland, and its commitment to innovation helped our decision process in selecting Shannon as the facility\u2019s location. We look forward to continuing to work with our partner PPG, as well as the Irish Government through IDA Ireland, as we continue to invent, develop and deliver state-of-the-art phosphorescent OLED materials.\u201d<\/p>\n

\n\u201cPPG is proud to be a strategic partner of UDC. Our work together in the production of OLED materials and technologies is driving sustainable innovation in the consumer electronics industry,\u201d said Tim Knavish, PPG president and chief executive officer. \u201cThe opening of this new facility in Shannon reflects the availability of skilled talent in Ireland\u2019s Mid-West region and our commitment to supporting the growth of the local economy. We are grateful for the support of the Irish Government through IDA Ireland.\u201d<\/p>\n

\n\u201cIDA Ireland is committed to winning jobs and investment for all regions. It’s great to see the opening of this facility following on from the announcement in 2021 by UDC and PPG to locate in Shannon and create 100 jobs,\u201d said Mary Buckley, Executive Director, IDA Ireland. \u201cWe are delighted to work with these companies who are at the cutting edge of their industry. I would like to wish them every success in Shannon.\u201d<\/p>\n

\nTo enhance the energy efficiency, colour gamut and lifetime of OLED displays, UDC\u2019s phosphorescent OLED emitters are used in virtually every OLED display in the world such as consumer electronic products ranging from smartwatches and smartphones to laptops, tablets, automotive and TVs, including foldable and rollable consumer electronic products.<\/p>\n

PPG: WE PROTECT AND BEAUTIFY THE WORLD\u2122<\/b><\/p>\n

\nAt PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 140 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 70 countries and reported net sales of $17.7 billion in 2022. We serve customers in construction, consumer products, industrial, and transportation markets and aftermarkets. To learn more, visit www.ppg.com<\/a>.<\/p>\n

\nThe PPG Logo<\/i> and We protect and beautify the world<\/i> are registered trademarks of PPG Industries Ohio, Inc.<\/p>\n

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

\nUniversal 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 5,500 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>.<\/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.<\/p>\n

All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company\u2019s technologies, and the Company\u2019s expected results and future declaration of dividends, 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 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 periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled \u201cRisk Factors\u201d in Universal Display Corporation\u2019s Annual Report on Form 10-K for the year ended December 31, 2022. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.<\/i><\/p>\n

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

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230517005788\/en\/<\/a><\/span><\/p>\n

Universal Display Corporation:
\n<\/b>
Darice Liu
\n
Senior Director of Investor Relations and Corporate Communications
\n
investor@oled.com
\n<\/a>
media@oled.com
\n<\/a>
+1 609-964-5123<\/p>\n

PPG:
\n<\/b>
Brande Juart
\n
PPG Marketing Communications Manager, Specialty Coatings and Materials
\n
juart@ppg.com
\n<\/a>
+1 724-325-5203<\/p>\n

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

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

INDUSTRY KEYWORDS:<\/b> Research Hardware Alternative Energy Consumer Electronics Energy Technology Other Manufacturing Semiconductor Science Chemicals\/Plastics Wearables\/Mobile Technology Other Technology Manufacturing<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n
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Universal Display Corporation and PPG’s new state-of-the-art OLED manufacturing site in Shannon, Ireland. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n
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Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland Initial 10 million euro investment launches multiyear, multiphase expansion plan for production of energy-efficient phosphorescent OLED materials SHANNON, Ireland–(BUSINESS WIRE)–Universal Display Corporation (Nasdaq: OLED) (UDC) and PPG (NYSE: PPG) today officially opened a new state-of-the-art organic light-emitting diode (OLED) manufacturing facility in Shannon, Ireland. This County Clare site is expected to double the production capacity and further diversify the worldwide manufacturing footprint for UDC\u2019s energy-efficient phosphorescent OLED emissive materials for the growing OLED market. UDC\u2019s initial investment of 10 million euros, and subsequent multimillion-euro expenditures and multiyear, multiphase expansions of the site are expected to have a significant positive economic impact on the region. This … <\/p>\n

Continue reading “Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland”<\/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-759455","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nUniversal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland - 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\/universal-display-corporation-and-ppg-celebrate-opening-of-state-of-the-art-oled-manufacturing-site-in-shannon-ireland\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Universal Display Corporation and PPG Celebrate Opening of State-of-the-Art OLED Manufacturing Site in Shannon, Ireland Initial 10 million euro investment launches multiyear, multiphase expansion plan for production of energy-efficient phosphorescent OLED materials SHANNON, Ireland–(BUSINESS WIRE)–Universal Display Corporation (Nasdaq: OLED) (UDC) and PPG (NYSE: PPG) today officially opened a new state-of-the-art organic light-emitting diode (OLED) manufacturing facility in Shannon, Ireland. This County Clare site is expected to double the production capacity and further diversify the worldwide manufacturing footprint for UDC\u2019s energy-efficient phosphorescent OLED emissive materials for the growing OLED market. UDC\u2019s initial investment of 10 million euros, and subsequent multimillion-euro expenditures and multiyear, multiphase expansions of the site are expected to have a significant positive economic impact on the region. 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This County Clare site is expected to double the production capacity and further diversify the worldwide manufacturing footprint for UDC\u2019s energy-efficient phosphorescent OLED emissive materials for the growing OLED market. UDC\u2019s initial investment of 10 million euros, and subsequent multimillion-euro expenditures and multiyear, multiphase expansions of the site are expected to have a significant positive economic impact on the region. 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