Rohm and Haas, a US specialty materials company, announced on August 14, 2007 that it will form a joint venture with SKC, a Korean manufacturer of display materials, to manufacture optical films for use in the production of flat-panel displays. Rohm and Haas plans to invest approximately US$190 million for a 51% stake in SKC's display technologies business, to be spun off into a separate company according to the terms of the agreement. The transaction is expected to conclude in the fourth quarter of 2007.