Rohm and Haas Company has acquired Gracel Display - a leading developer and manufacturer of OLED materials. The transaction, worth approximately $40 million, gives Rohm and Haas controlling interest in South Korea-based Gracel.

The acquisition of Gracel and its portfolio of OLED materials broadens Rohm and Haass growing Display Technologies business. Rohm and Haas manufactures TFT (thin film transistor) photoresists and related materials as part of its Display Chemicals group, and added Optical Display Films when it acquired Eastman Kodak's Light Management Films business in June 2007. Rohm and Haas launched SKC Haas Display Films in December 2007, a new joint venture that develops and manufactures advanced films and filters for LCD and plasma displays. Including the acquisition of Gracel, Rohm and Haas has invested $270 million during the last 12 months to build its Display Technologies business unit.

Were pleased to welcome Gracel and its strong pipeline of OLED materials to Rohm and Haas, said Dr. Yi Hyon Paik, vice president and business group director, Rohm and Haas Electronic Materials. Gracel has an excellent track record of innovation and an established customer base. In fact, its advanced OLED materials are used today in devices that are manufactured by leading display companies. The future of this technology is very bright, and we look forward to bringing a new generation of OLED materials to the growing display market.

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