PHILADELPHIA (AP) -- Rohm and Haas Co. has bought a controlling stake in Gracel Display Inc., a South Korean developer of products used in flat-panel television displays, for $40 million, the companies said Monday.
Founded in 2000 and headquartered in Seoul, Gracel Display makes organic light-emitting diode materials, which are used to make flat-panel televisions brighter and give them better clarity and contrast.
The market for OLEDs is expected to grow in the next decade, Rohm and Haas said, and Gracel Display has a strong pipeline of new products and ''an excellent track record of innovation and an established customer base.''
Rohm and Haas has now invested $270 million in its display technologies business over the past year, including the launch of SKC Haas Display Films in December and the purchase of Eastman Kodak's light management films unit in July, the company said.
