Press release
OLED Material Manufacturing, PPG Announce Multi-Million-Euro Investment, up to 100 New Jobs in Shannon
SHANNON, Ireland--(BUSINESS WIRE)-- Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) today announced that OLED Material Manufacturing Ltd.
About this update from Universal Display Corporation
[{"type":"text","content":" SHANNON, Ireland--(BUSINESS WIRE)--\nUniversal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) today announced that OLED Material Manufacturing Ltd. (OM2) and PPG are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. The facility, which was announced in February 2021, will broaden the global footprint and increase the production of Universal Display Corporation’s (UDC) energy-efficient, high-performing UniversalPHOLED® materials to meet growing organic light emitting diode (OLED) market demand and evolving industry requirements.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210722005238/en/OLED Material Manufacturing Ltd. (OM2) and PPG (NYSE: PPG) today announced that they are embarking on a multi-million-euro capital investment that is expected to create up to 100 high-tech jobs at a new Shannon manufacturing site. Pictured at Government Buildings are (L-R) An Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD; Martin Shanahan, CEO, IDA Ireland; Austin McCabe, Director, OLED Material Manufacturing Limited; and Gerry Cahill, PPG Plant Manager, Shannon. Photo: Maxwell Photography.\nThe announcement was welcomed by Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, who said, “This major announcement by OLED Material Manufacturing and PPG is a welcome boost to the Mid-West region. It will make a significant contribution to Shannon and the Irish economy in terms of 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.”\n\nAustin McCabe, Director, OLED Material Manufacturing Limited, said, “Our manufacturing expansion in Ireland allows UDC to strengthen its mission, which centers 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-...