UpdateChemtura, UP Chemical JV to target global LED market

01 February 2011 20:59  [Source: ICIS news]

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HOUSTON (ICIS)--US specialty chemical firm Chemtura is creating a joint venture (JV) with Korea’s UP Chemical to manufacture and sell high-purity metal organic precursors for the global light-emitting diode (LED) market, the companies said on Tuesday.

The joint venture will be called DayStar Materials, according to the companies, and will begin supplying product in the 2011 second quarter.

The manufacturing facilities for DayStar will be located in Korea, according to Chemtura spokesman John Gustavsen.

UP Chemical describes itself as specialists in the research and development, production, refinement and sale of chemical vapour deposition precursors, as well as other thin film deposition materials for the electronic materials market in South Korea and the Asia Pacific region.

Meanwhile, the joint venture would use Chemtura technology related to metal alkyls for polymerisation and specialty applications, along with its backward integration for trimethylaluminum, the companies said.

“The LED market is growing at a staggering rate, and DayStar Materials will be uniquely positioned to meet the high-purity metal organic precursor supply requirements of LED chip manufacturers throughout Asia,” said Chemtura chief executive Craig Rogerson.

Investment figures were not disclosed.

For more on Chemtura visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Ben DuBose
+1 713 525 2653

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