Rohm and Haas Co. announced Wednesday its acquisition of Eastman Kodak's Light Management Films business, a supplier of advanced films that improve the brightness and efficiency of liquid crystal displays (LCD).
As part of the agreement, Rohm and Haas will acquire the intellectual property (IP) associated with Kodak's light management films, including patent and trademarks, know-how, trade secrets, the business's portfolio of current and future products, and a license to additional IP. The acquisition also includes a semiworks facility in Rochester, N.Y., and the supply of key raw materials.
Financial terms were not disclosed and the transaction is expected be completed in the first half of 2007.
When the transaction is completed, Rohm and Haas is planning to build a dedicated, high-volume manufacturing facility in Asia, with start-up set for early 2008.
According to executives at Rohm and Haas, the acquisition will help the company to develop its Flat Panel Display Technologies business and to grow its Electronic Materials franchise.
Kodak employees associated with the Films business in Rochester, Taiwan, Japan, Korea, and China are expected to join the Rohm and Haas Electronic Materials business.
Rohm and Haas, headquartered in Philadelphia, Pa, is a developer of technologies for the specialty materials industry. The company had annual sales of about $8.2 billion in 2006.