Rohm And Haas Boosts Display Materials

Rohm and Haas will spend $190 million to acquire a 51% stake in the display materials business of SKC, a South Korean producer of propylene oxide, polyester films, and display materials. SKC is part of the SK Group, South Korea???s main oil refiner and one of the country's largest business groups.

Employing 600 people, SKC's display business consists mostly of plants and technical centers in South Korea, Taiwan, and China. They produce and support light-diffuser films, optical protection films, technology for touch panels, plasma-display filters, and technology to manufacture color filters for liquid-crystal displays.

The business will become part of a joint venture that Rohm and Haas expects will initially record annual sales of $300 million.

Earlier this year, Rohm and Haas spent about $40 million to buy Kodak's light-management films business. Rohm and Haas spokesman Kenneth A. Gedaka says his company will continue to invest in the flat-panel business. "It's an important part of our electronic materials franchise," he says.