Rohm and Haas Company Acquires Gracel Display    

On April 9th, 2008 Rohm and Haas Company (NYSE:ROH) has acquired Gracel Display, Inc., a leading developer and manufacturer of Organic Light Emitting Diode (OLED) materials.  The transaction, worth approximately US$40 million, gives Rohm and Haas controlling interest in South Korea-based Gracel.   
   The acquisition of Gracel and its portfolio of OLED materials broadens Rohm and Haas's growing Display Technologies business. Rohm and Haas manufactures TFT (thin film transistor) photoresists and related materials as part of its Display Chemicals group, and added Optical Display Films when it acquired Eastman Kodak's Light Management Films business in June 2007. Rohm and Haas launched SKC Haas Display Films in December 2007, a new joint venture that develops and manufactures advanced films and filters for LCD and plasma displays. Including the acquisition of Gracel, Rohm and Haas has invested US$270 million during the last 12 months to build its Display Technologies business unit.
   The use of OLEDs in displays is expected to grow significantly in the next 10 years, according Rohm and Haas.