Universal Display’s Subsidiary Adesis, Inc. Purchases Delaware Facility to Expand Operations
May 11 2017 - 4:10PM
Business Wire
Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today announced that its wholly-owned
subsidiary, Adesis Inc., purchased its New Castle, Delaware
building, to expand its custom organic synthesis, research &
development, and specialty manufacturing capabilities. The New
Castle, DE facility is a 47,500-square-foot building in the
Southgate Industrial Center, of which Adesis had previously leased
about 25,100 square feet.
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“We are pleased to help scale up Adesis’ operations as it
continues to grow its CRO (contract research organization) work in
supporting the pharmaceutical, chemical, biomaterials, and
catalysts industries,” said Steven V. Abramson, President and Chief
Executive Officer of Universal Display Corporation. “The
integration of Adesis has progressed extremely well and we believe
the purchase of the building is the next step in facilitating the
business' long-term growth plans. This will also support our
increasing technical capabilities, as we expand our OLED product
portfolio for new red, green, yellow and blue emitters and
hosts.”
“This is an exciting time of growth for Adesis,” said Andrew
Cottone, President of Adesis, Inc. “We are fortunate to have the
support of our parent company Universal Display Corporation, as we
grow our business across all our end markets. The purchase of the
building creates an opportunity to increase our critical mass and
expand our CRO offerings, while continuing to enhance Universal
Display’s chemistry expertise and capabilities.”
About Adesis, Inc.
As a wholly-owned subsidiary of Universal Display Corporation,
Adesis, Inc. is a contract research organization (CRO) supporting
the pharma, biotech, catalysis and a number of other industries.
The CRO specializes in organic and organometallic synthesis, in
milligrams to multi-kilogram quantities. Adesis has a business
model of providing clients with organic chemistry services in three
areas: early stage research, scale up and development, and
specialty manufacturing. With over 20 years of success and
currently over 50 chemists with extensive industry and professional
experience, Adesis supports companies in various industries with
small molecule organic chemistry expertise. Adesis provides a range
of services that can supplement research and development efforts.
It can also act as a specialty manufacturer to reinforce supply
chains. To learn more about Adesis, please visit
http://adesisinc.com/
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in
developing and delivering state-of-the-art, organic light emitting
diode (OLED) technologies, materials and services to the display
and lighting industries. Founded in 1994, the Company currently
owns or has exclusive, co-exclusive or sole license rights with
respect to more than 4,200 issued and pending patents worldwide.
Universal Display licenses its proprietary technologies, including
its breakthrough high-efficiency UniversalPHOLED® phosphorescent
OLED technology that can enable the development of low power and
eco-friendly displays and solid-state lighting. The Company also
develops and offers high-quality, state-of-the-art UniversalPHOLED
materials that are recognized as key ingredients in the fabrication
of OLEDs with peak performance. In addition, Universal Display
delivers innovative and customized solutions to its clients and
partners through technology transfer, collaborative technology
development and on-site training.
Headquartered in Ewing, New Jersey, with international offices
in China, Hong Kong, Ireland, Japan, South Korea, and Taiwan, and
wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware,
Universal Display works and partners with a network of world-class
organizations, including Princeton University, the University of
Southern California, the University of Michigan, and PPG
Industries, Inc. The Company has also established relationships
with companies such as AU Optronics Corporation, BOE Technology,
DuPont Displays, Inc., Innolux Corporation, Kaneka Corporation,
Konica Minolta Technology Center, Inc., LG Display Co., Ltd.,
Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer Corporation, Samsung
Display Co., Ltd., Sumitomo Chemical Company, Ltd., Tianma
Micro-electronics and Tohoku Pioneer Corporation. To learn more
about Universal Display Corporation, please visit
http://www.oled.com.
Universal Display Corporation and the Universal Display
Corporation logo are trademarks or registered trademarks of
Universal Display Corporation. All other company, brand or product
names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s technologies and
potential applications of those technologies, Adesis, Inc.’s growth
plans and potential CRO offerings, as well as the growth of the
OLED market and the Company’s opportunities in that market, are
forward-looking financial statements within the meaning of the
Private Securities Litigation Reform Act of 1995. You are cautioned
not to place undue reliance on any forward-looking statements in
this document, as they reflect Universal Display Corporation’s
current views with respect to future events and are subject to
risks and uncertainties that could cause actual results to differ
materially from those contemplated. These risks and uncertainties
are discussed in greater detail in Universal Display Corporation’s
periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the
section entitled “Risk Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2016.
Universal Display Corporation disclaims any obligation to update
any forward-looking statement contained in this document.
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Universal Display Contact:Darice Liu, 609-671-0980
x570investor@oled.commedia@oled.com
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