The company said in a statement that it would “expand its global footprint and increase the output of Universal Display Corporation’s Universal PHOLED® high-performance and energy-saving materials to meet the growing market demand for organic light-emitting diodes and industry demand.”
The statement has been received well by Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar.
Mr.Varadkar said: “This major announcement by OLED Material Manufacturing and PPG is a welcome boost to the Mid-West region. It will significantly contribute to Shannon and the Irish economy regarding job creation, investment and innovation Technology is one of the fastest-growing sectors here in Ireland and globally, and I wish the team continued success.”
The company is headquartered in Pittsburgh, has operations in more than 75 countries, and has net sales of $13.8 billion in 2020.
Director of OLED Material Manufacturing Limited Austin McCabe said: “Our manufacturing expansion in Ireland allows UDC to strengthen its mission, which centres on enabling our customers and fostering the proliferation of energy-efficient OLED display and lighting applications in the consumer landscape.
“Leveraging UDC Ireland’s presence, the site’s infrastructure and the Mid-West region’s top-level talent, we are excited about the new Shannon facility”.
“Together with our long-term partner, PPG, this multi-million-euro investment will expand the global manufacturing footprint for UDC’s proprietary state-of-the-art phosphorescent emissive materials to meet the substantial growth forecasted for the OLED market.”