Unidym Inc. has announced that it has signed a definitive agreement to create a joint venture partnership with Wisepower, a publicly traded Korean company, to market and co-develop Unidym's proprietary film and electronic ink products into the Korean touch panel and display industries. The newly formed entity will be called Unidym Korea.
Unidym will retain a significant ownership position in Unidym Korea in exchange for a license to the new company for certain intellectual property. Under the arrangement, Unidym has agreed to supply its carbon nanotube based transparent conductive film to Unidym Korea. Wisepower has agreed to contribute operating capital and provide local manufacturing, sales, and distribution expertise.
Mark Tilley, CEO of Unidym, said "South Korea is becoming an increasingly important geography for our target markets in touch panel, LCD and other display and solar markets." He added, "We are honored to be working with a company of Wisepower's caliber. Wisepower has demonstrated its ability to effectively build new businesses in electronics. By creating Unidym Korea in partnership with Wisepower, we will have the local presence to support our efforts with major Korean display manufacturers and accelerate our business development activities with local partners."
Gi Ho Park, CEO of Wisepower, said "With its superior product offerings and dominant intellectual property portfolio, we believe Unidym is the world leader in CNT electronics." He added, "We look forward to working with Unidym to expand this business in Korea. Furthermore, we intend to explore the possible applications of CNTs in the areas of LEDs and rechargeable batteries. This cooperation with Unidym will enable Wisepower to use new materials such as CNTs to enhance its rechargeable batteries and LED product position in the market."
|About Wisepower Co Ltd|
|Wisepower, a listed company in KOSDAQ (040670), is a leading supplier of Li-polymer batteries for mobile appliances in Republic of Korea. Its customers include cellular phone manufacturers such as LG Electronics, Pantech, and KTFT. Wisepower has recently developed high quality LED packages and solid-state lighting. The company’s products also include wireless charging system for electronic applications.|