NEW CASTLE, Del.--(BUSINESS WIRE)--
Adesis,
Inc., a wholly-owned subsidiary of Universal
Display Corporation (Nasdaq:OLED), today announced the grand-opening
of its new, state-of-the-art chemistry laboratories in its 50,000 sq. ft
New Castle facility. A ribbon cutting ceremony was held on October 19,
2018 to commemorate this expansion with state and local officials, and
other members of the Delaware community. In attendance included Governor
John Carney, Senator
Tom Carper and the Delaware
Prosperity Partnership (DPP), whose support for innovation and job
growth in Delaware were integral with this expansion.
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Adesis Ribbon Cutting Ceremony on October 19, 2018 for new state-of-the-art laboratories. (Photo: Emily David)
“We are thrilled to celebrate the next milestone in Adesis’ continuing
growth success,” said Andrew Cottone, Ph.D., President of Adesis, Inc.
“Our achievements over the past two-and-half years have been bolstered
by our growing scientific staff, Universal Display Corporation and the
support of the Delaware government. During this period, we have
increased our headcount and scaled up operations by more than 100% and
added new discovery and manufacturing capabilities. This recent
expansion deepens our continued commitment to New Castle County and the
state, as well as our steadfast focus on broadening our custom organic
synthesis, research & development, and specialty manufacturing services
for our customers and partners.”
Announced in December 2017, this expansion of 6,000 square feet adds to
the existing chemistry labs where scientists perform leading-edge
discovery, development, and commercialization services. The expansion is
supported with a grant through the Delaware Strategic Fund and
cooperation with state and local officials. With Governor Carney’s
successful establishment of a new public private partnership, the
Delaware Prosperity Partnership, Adesis was awarded a $445,224 grant.
This grant helped to facilitate this recent multi-million dollar
laboratory expansion, which resulted in the creation of high-tech jobs.
“Founded in Delaware over 25 years ago, Adesis has a strong track record
of growth and innovation,” said Governor John Carney. “We’re pleased to
help support this expansion, which will lead to additional job growth
and economic activity in our state. This announcement also helps
reaffirm that Delaware remains a great place for businesses of all sizes
to put down roots, grow, and create jobs.”
“Our state may be small, but that means we really care about the success
of companies like Adesis. It means we want to invest in our community,
whether that’s by bolstering our strong workforce, crafting tax policy
that creates certainty and encourages important research and
development, or prioritizing infrastructure that promotes growth,” said
Senator Tom Carper. “We are thrilled that Adesis chose to make Delaware
its home, and we are rooting for the Company’s continued success and
growth. This expansion not only means job growth here and now in
Delaware, but a level of innovation that can benefit generations to
come.”
“Adesis’ growth in Delaware underscores our state’s rich history of
innovation and commitment to being business friendly; on behalf of
Delaware Prosperity board and leadership team we celebrate Adesis’
continued growth in Delaware,” said W. Kurt Foreman, President and CEO
of Delaware Prosperity Partnership.
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
approximately 100 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 and
protect sensitive intellectual property. 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. To learn
more about Universal Display Corporation, please visit https://oled.com.
About Delaware Prosperity Partnership
The Delaware
Prosperity Partnership (DPP) is a nonprofit, public-private private
partnership created through the Delaware General Assembly and signed
into law in 2017 as the state’s lead economic development resource.
Delaware Prosperity Partnership is responsible for promoting Delaware’s
business-friendly assets; attracting, growing and retaining businesses
in Delaware; building a stronger entrepreneurial and innovation
ecosystem; conducting economic research to understand current and future
business opportunities; supporting private employers in identifying,
recruiting and developing talent in the state of Delaware.
All statements in this document that are not historical, such as
those relating to the Company’s technologies and potential applications
of those technologies, the Company’s expected results and future
declaration of dividends, as well as the growth of the OLED and CRO
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 the Company’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, 2017.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
(OLED-C)
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Adesis, Inc./Universal Display Corporation:
Darice Liu, +1
609-964-5123
investor@oled.com
media@oled.com
Source: Adesis, Inc.