Ritek and Kolon Form OLED JV
November 24, 2006
Taiwanese optical storage media maker Ritek has struck a memorandum of understanding with Korean Kolon Group to set up an OLED (Organic Light-Emitting Diode) joint venture. The new company will incorporate Ritek's unit RiTdisplay and Kolon Industries as well as NeoView Kolon under the Kolon Group. Kolon is to spend US$100 million for an 80% stake in the joint venture, and Ritek will control the remaining 20%. The joint venture is expected to start operations in March or April 2007.