Panasonic Electric Works (PEW) and Idemitsu Kosan announced that they will establish a new joint venture for developing, manufacturing and marketing OLED lighting panels. The new company will be called Panasonic Idemitsu OLED Lighting and it will combine PEW's design and manufacturing technologies with Idemitsu OLED materials.
The new company will have 10 employees at the time of establishment. PEW will owe 51% and Idemitsu will own the rest (49%). The initial company capital will be JP¥ 15 billion ($182 million).
Interestingly, we know that PEW was using UDC's materials in their OLED Lighting prototypes. Now we hear that they will stop using UDC's materials and will start using Idemitsu's.