Herzogenrath/Germany, October 24, 2018 - AIXTRON SE today announced a Joint Venture agreement by AIXTRON SE, Germany and IRUJA Co. Ltd., South Korea to invest in APEVA, AIXTRON's subsidiary for OLED deposition technologies. Closing of the Joint Venture Agreement is expected during 2018.
IRUJA will contribute their well-established Automation & Handling Technology for the display market into the Joint Venture in steps, also making cash contributions. In exchange for these contributions, IRUJA will obtain an equity stake in APEVA of up to 20% over the next few years. Furthermore, IRUJA will act as a manufacturing partner in Korea for APEVA to give access to a high quality local supply chain and manufacturing resources. AIXTRON has contributed its innovative OVPD technologies into APEVA, which enables the highly efficient deposition of organic materials in a very well controlled manner. Based on the contributions from both companies, APEVA will become a complete deposition system provider for the organic material layers within the OLED stack.
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This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of AIXTRON. These statements may be identified by words such as "may", "will", "expect", "anticipate", "contemplate", "intend", "plan", "believe", "continue" and "estimate" and variations of such words or similar expressions. These forward-looking statements are based on our current assessments, expectations and assumptions, of which many are beyond control of AIXTRON, and are subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Should these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of AIXTRON may materially vary from those described explicitly or implicitly in the relevant forward-looking statement. This could result from a variety of factors, such as actual customer orders received by AIXTRON, the level of demand for deposition technology in the market, the timing of final acceptance of products by customers, the condition of financial markets and access to financing for AIXTRON, general conditions in the market for deposition plants and macroeconomic conditions, cancellations, rescheduling or delays in product shipments, production capacity constraints, extended sales and qualification cycles, difficulties in the production process, the general development in the semi-conductor industry, increased competition, fluctuations in exchange rates, availability of public funding, fluctuations and/or changes in interest rates, delays in developing and marketing new products, a deterioration of the general economic situation and any other factors discussed in any reports or other announcements , in particular in the chapter Risks in the Annual Report, filed by AIXTRON. Any forward-looking statements contained in this document are based on current expectations and projections of the executive board based on information available the date hereof. AIXTRON undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, unless expressly required to do so by law.
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