“2016 was a meaningful year of ‘building’ - for the OLED industry and for Universal Display Corporation. The growing breadth of bright, beautiful, thin OLED products is captivating the consumer market. With a flourishing pipeline of new OLED market applications, new OLED end-users and new OLED consumer adoptees, leading panel makers announced multi-billion dollar investment plans and commenced new capacity builds for the next wave of high-volume OLED display production,” said Steven V. Abramson, Universal Display’s president and CEO. “
This past year was also filled with a number of accomplishments and events that build and reinforce Universal Display’s leadership position in the OLED ecosystem,” Abramson continued. “These included new agreements in China, the introduction and shipment of next-generation emitters, bolstering our IP portfolio with new inventions and patents from our amazing R&D teams, and hitting new milestones in our R&D programs. Additionally, we invested $130 million in acquiring both Adesis, Inc., an organic synthesis contract research organization (CRO), and BASF’s OLED IP portfolio. We also embarked on a $15 million manufacturing expansion phase with our partner PPG Industries.
“Across the company, we are building momentum for continued profitable growth,” he added. “We are expanding our customer collaborations, significantly stepping up our R&D efforts, increasing our technical field capabilities, and fortifying our product development engine. We continue to make great strides in broadening the scope and depth of our phosphorescent technology and materials portfolios, including new red, green, yellow and blue PHOLED emitters and host materials. We are also advancing our next-generation manufacturing technologies, such as organic vapor jet printing.”