EWING, N.J.--(BUSINESS WIRE)--
Universal
Display Corporation (Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, today announced that its wholly-owned
subsidiary, Adesis
Inc., purchased its New Castle, Delaware building, to expand its
custom organic synthesis, research & development, and specialty
manufacturing capabilities. The New Castle, DE facility is a
47,500-square-foot building in the Southgate Industrial Center, of which
Adesis had previously leased about 25,100 square feet.
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“We are pleased to help scale up Adesis’ operations as it continues to
grow its CRO (contract research organization) work in supporting the
pharmaceutical, chemical, biomaterials, and catalysts industries,” said
Steven V. Abramson, President and Chief Executive Officer of Universal
Display Corporation. “The integration of Adesis has progressed extremely
well and we believe the purchase of the building is the next step in
facilitating the business' long-term growth plans. This will also
support our increasing technical capabilities, as we expand our OLED
product portfolio for new red, green, yellow and blue emitters and
hosts.”
“This is an exciting time of growth for Adesis,” said Andrew Cottone,
President of Adesis, Inc. “We are fortunate to have the support of our
parent company Universal Display Corporation, as we grow our business
across all our end markets. The purchase of the building creates an
opportunity to increase our critical mass and expand our CRO offerings,
while continuing to enhance Universal Display’s chemistry expertise and
capabilities.”
About Adesis, Inc.
As a wholly-owned subsidiary of Universal Display Corporation, Adesis,
Inc. is a contract research organization (CRO) supporting the pharma,
biotech, catalysis and a number of other industries. The CRO specializes
in organic and organometallic synthesis, in milligrams to multi-kilogram
quantities. Adesis has a business model of providing clients with
organic chemistry services in three areas: early stage research, scale
up and development, and specialty manufacturing. With over 20 years of
success and currently over 50 chemists with extensive industry and
professional experience, Adesis supports companies in various industries
with small molecule organic chemistry expertise. Adesis provides a range
of services that can supplement research and development efforts. It can
also act as a specialty manufacturer to reinforce supply chains. To
learn more about Adesis, please visit http://adesisinc.com/
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in developing
and delivering state-of-the-art, organic light emitting diode (OLED)
technologies, materials and services to the display and lighting
industries. Founded in 1994, the Company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
4,200 issued and pending patents worldwide. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology that can enable the
development of low power 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.
Headquartered in Ewing, New Jersey, with international offices in China,
Hong Kong, Ireland, Japan, South Korea, and Taiwan, and wholly-owned
subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display
works and partners with a network of world-class organizations,
including Princeton University, the University of Southern California,
the University of Michigan, and PPG Industries, Inc. The Company has
also established relationships with companies such as AU Optronics
Corporation, BOE Technology, DuPont Displays, Inc., Innolux Corporation,
Kaneka Corporation, Konica Minolta Technology Center, Inc., LG Display
Co., Ltd., Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer Corporation,
Samsung Display Co., Ltd., Sumitomo Chemical Company, Ltd., Tianma
Micro-electronics and Tohoku Pioneer Corporation. To learn more about
Universal Display Corporation, please visit http://www.oled.com.
Universal 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.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s technologies and
potential applications of those technologies, Adesis, Inc.’s growth
plans and potential CRO offerings, as well as the growth of the OLED
market and the Company’s 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’s 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’s periodic reports on Form 10-K and Form 10-Q filed
with the Securities and Exchange Commission, including, in particular,
the section entitled “Risk Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2016.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
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Source: Universal Display Corporation