The US based lighting technology giant Solvay is now the owner of another company also.
Why such a business acquisition by Solvay?
OLED technology uses organic compounds in stacked layers and that emit light when electric current is passed through it. It is environment friendly and also cuts the energy cost too. The luminance efficiency is also great and it also supports bendable displays by reducing the thickness and the weight too. Since Solvay has decided to increase its foray into the OLED market which is also rapidly growing in size it has decided to set up a new electronics laboratory at Seoul City in South Korea.
This would be a part of the research center of the company that it has in Ewha Woman's University. This laboratory would carry on researches, bring out the advanced solutions in OLED lighting technology to the market, and increase the speed of joint development activities with the customers and the existing partners. It would also help Solvay bring in future partners to the business too.
Why is the acquisition an important milestone in the growth of Solvay?
The Gnerelar Manager of Solvay OLED incubator believes that the acquisition of Plextronics would bring about a new future for Solvay in the field of OLED. The knowhow of Solvay in OLED with now increase with Plextronics technological knowhow as well as the dedicated staff of the company. A new business would start with the creation of Solvay OLED incubator which would strengthen the position of the company in Asia too.