US OLED panel light engine and manufacturing company OLED Works LLC (OLED Works limited liability company) today announced that it has completed major OLED Philips acquired the assets and intellectual property. It will also set up OLED Works GmbH, production work will continue at the existing plant in Aachen, Germany. OLED Works early as April this year announced the acquisition plan.
OLED Works rely on a number of pioneering OLED talents, developed a new method of manufacturing OLED lighting panels. Philips Lumiblade OLED business group with FL300 series platform made complementary OLED lighting innovation for the enterprise. Synergies between the two groups in many ways provides the basis for actively expanding product portfolio.
"OLED Works committed to developing technology partnership, which is precisely underscores our lighting products for the integrated production of low-cost, high-performance solution for OLED commitment", Chairman of the Board of Directors David DeJoy OLED Works representation. "We believe this strategic acquisition will be beneficial to the development of OLED Works innovative technologies to meet customers' unique needs."
"With the change of the company OLED device development and production business ownership, Philips Lighting has completed its strategy to focus on lighting products, systems and services target", Philips LED Division CEO Mahesh Iyer. "We firmly believe that after OLED Works LLC take ownership, they will continue to take a leadership position in emerging markets, but also will become Philips Lighting supplier of high value."
