Hanwha, Plasmion Sign OLED Agreement

SEOUL, South Korea & HOBOKEN, N.J., Oct. 22 -- Hanwha L&C Corp. and Plasmion Corp. announced they have entered into a strategic partnership to commercialize Plasmion's negative ion beam deposition technology, a thin-film coating technology used to produce indium tin oxide (ITO)-coated glass for organic light-emitting diode (OLED) display substrates.

Hanwha ordered a $1.25 million production system and plans to begin full-scale manufacturing in December. The company said it will replace all of the ITO glass substrates for OLED that are currently imported from Japan and and that it is looking for export opportunities in Japan, Taiwan and other Asian countries. In addition to the system purchase, Hanwha made a $1 million strategic investment in Plasmion with rights to produce OLED substrate products in Korea and Taiwan.

For more information, visit: www.plasmion.com