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Merck to invest USD23 million in OLED capacity expansion in South Korea, China

October 28/2020

MOSCOW (MRC) -- Merck will invest 20 million euros (USD23.6 million) in and around Pyeongtaek, Gyeonggi Province, to increase its organic light-emitting diode manufacturing capabilities, the company said.

The 20 million euros will be used to establish a modular production system for an additional OLED sublimation purification facility, and expand its OLED manufacturing facility in the neighboring county of Poseung-eup. OLED sublimation purification is a key step that ensures top-level OLED quality and lifespan. An increase in such production capacity will prepare Merck for a rise in demand in the OLED market. Bigger manufacturing capacity will reinforce Mercks role as a supplier of high purity OLED materials to Asias panel makers, Merck forecasts.

We are proud to announce a new investment of 20 million euros to produce the most advanced OLED materials here at Pyeongtaek to ensure fast delivery to our Korean customers, said Kai Beckmann, member of the executive board of Merck and CEO of Performance Materials. We are well aware that OLED materials have been defined as key materials by the Korean government. Likewise, Merck wants to increase Koreas competitiveness in the display industry. We see our investment as a contribution to creating an agile supply chain for our customers in Korea, Beckmann said.

Gyeonggi Province is an ideal location for Mercks investment, said Kim Woo-kyu, managing director of Merck Korea, because of its proximity to Mercks major customers. Gyeonggi is well-positioned for innovative production as well as having excellent human resources, small and medium-sized enterprises and universities, Kim said.

Merck has been growing its high purity OLED manufacturing prowess in Asia in response to new form factors such as foldable and rollable displays. The company has a history of OLED research of over three decades, becoming one of the pioneers of OLED material technologies.

We remind that Merck celebrated the opening of its new packaging center at the science and technology companys headquarters in Darmstadt, Germany, in October, 2018. The new 161,458-square-foot facility is dedicated to the packaging and shipping of Mercks current portfolio of pharma medicines in more than 90 countries and help meet increasing patient needs for flagship medicines Glucophage, Concor and Euthyrox in the areas of diabetes, cardiovascular diseases and thyroid disorders respectively. It will also provide capacity for potential future pharma products currently in clinical development such as evobrutinib in the area of neurology-immunology or tepotinib in the area of oncology.

We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year. At the same time, production of basic chemicals increased by 6.1% year on year in the first nine months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output. Last month's production of primary polymers decreased to 852,000 tonnes from 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4%  year on year.

Headquartered in Darmstadt, Germany, Merck opened an OLED application center in Pyeongtaek, Korea, in 2015. Merck Korea now has 11 operation sites and some 1,200 employees and operates businesses in functional materials, health care and life sciences. The functional materials business encompasses advance materials for information technology products such as displays and semiconductors. It also includes cosmetics and paints for automobiles. 
Its health care business involves pharmaceuticals and medical devices for treatments of cancer, multiple sclerosis and infertility. The life sciences business deals in an extensive portfolio of over 300,000 products used for protein research, cell biology, antibodies, water purification and microbiome tests.
Author:Anna Larionova
Tags:petroleum products, car components, Medicine, neftegaz, petrochemistry, coatings, Merck.
Category:General News
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