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Symbols: CEMJQ
Feb 04, 2011 (Close-Up Media via COMTEX) -- Chemtura Corp. and UP Chemical Co. announced the formation of DayStar Materials, a joint venture company which will manufacture and sell high-purity metal organic precursors for the LED market.
According to a release, the joint venture will leverage Chemtura's capability and technology related to metal alkyls for polymerization and other specialty applications, together with its backwards integration for trimethylaluminum (TMA), a key material used in the manufacture of high-purity metal organic precursors for use in the production process for High-Brightness LED chips.
The joint venture will further combine the strengths of UP Chemical Co. Ltd., who specialize in the research, development, production, high-purity refinement and sale of various chemical vapor deposition precursors, as well as other thin film deposition materials for the electronic materials market in South Korea and the Asia Pacific region.
"We are very excited about the formation of DayStar Materials and the strong partnership we have developed with UP Chemical," said Craig Rogerson, Chemtura president, chairman and CEO. "The LED market is growing at a staggering rate, and DayStar Materials will be uniquely positioned to meet the high-purity metal organic precursor supply requirements of LED chip manufacturers throughout Asia."
"With joint support from Chemtura and UP Chemical, DayStar Materials has a strong, competitive position in the metal organic precursor market for LED's and will fill our Korean customers' need for a domestic supplier," said Soo-Ick Sohn, UP Chemical CEO. "Also, DayStar will provide the global LED market with a stable supply of high quality chemicals and is poised to join our customers as an important strategic partner."
Chemtura Corp. and its subsidiaries together are a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products.
UP Chemical provides high purity metal organic precursors for semiconductor device producers in Asia Pacific and South Korea.
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