Sumitomo takes a stake in CDT

Sumitomo Chemical has made an equity investment in Cambridge Display Technology to support its commercialisation strategy for LEPs within the rapidly growing OLED display market.

Sumitomo Chemical has made an equity investment in Cambridge Display Technology to support its commercialisation strategy for LEPs within the rapidly growing OLED display market.

The equity investment by Sumitomo further builds on the relationship that CDT and Sumitomo solidified through a license and technical assistance agreement concluded in 2001 between Sumitomo and CDT.

This agreement provided for transfer of CDT's basic LEP materials intellectual property to Sumitomo, enabling Sumitomo to carry out broad research to develop new conjugated polymers.

Sumitomo will provide these new polymer samples to CDT for testing and evaluation in a wide variety of electronic display structures on CDT's Godmanchester technology development centre.

"CDT has taken a very strategic approach to working with LEP materials suppliers that are willing to invest in the research and development of these materials", said David Fyfe, CEO of CDT.

"Sumitomo has a strong commitment to the LEP industry and CDT is pleased to have this further endorsement, both of Sumitomo's own commitment to the future of the LEP display industry and to CDT's central role in it.

We look forward to further deepening our already strong relationship with Sumitomo".

"The investment in CDT is a very important step in our strategy of commercialising LEP materials", said Masatoshi Takahashi, executive vice president of Sumitomo.

"CDT is an ideal partner to help us accelerate development of our LEP materials and their commercialisation.

The equity holding will strengthen the relationship between the two companies and also enable us to better participate in CDT's future success".

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