CAMBRIDGE, England, Dec. 8 /PRNewswire-FirstCall/ -- Cambridge Display Technology (CDT) (Nasdaq: OLED) and Sumitomo Chemical of Japan have confirmed that their Joint Venture company, Sumation(TM), commenced trading on November 14th 2005. Sumation(TM) supplies polymers and formulated inks for use in both development and commercial P-OLED display and lighting applications. The company is headquartered in Tokyo, and has an R & D team located in both the UK and Japan, while production of polymer materials will take place under sub contract at the Sumitomo Chemical plant in Osaka. In establishing Sumation, the parties expect to achieve even faster progress in the development of materials performance through the synergy of combining the lumation(TM), Sumitomo and CDT portfolios in the key polyfluorene and high-efficiency dendrimer chemistry families*. Through a combination of CDT's ink jet printing process development and associated ink formulation expertise, coupled with Sumation polymer research, display makers now have access to commercial quantities of the latest polymer materials technology to produce P-OLED displays for the next generation of consumer products. Dr David Fyfe, CEO of CDT commented: "CDT is very excited about the opportunities that the Joint Venture opens up. The combined material portfolios of Sumation(TM) cannot fail to accelerate the progress of P-OLED technology." For Sumitomo Chemical, Yonakura-san, President, said: "This exciting new venture strengthens our position in this important emerging sector, and allows us to provide improved support to display makers going forward." * The lumation business was acquired by Sumitomo Chemical from The Dow Chemical Company earlier this year. About CDT Cambridge Display Technology is a pioneer in the development of light emitting polymers (P-OLEDs) and their use in a wide range of electronic display products used for information management, communications and entertainment. P-OLEDs are part of the family of organic light emitting diodes, or OLEDs, which are thin, lightweight and power efficient devices that emit light when an electric current flows. P-OLEDs offer an enhanced visual experience and superior performance characteristics compared with other flat panel display technologies such as liquid crystal displays, and have the key advantage that they can be applied in solution using printing processes. Founded in 1992, the company is headquartered in Cambridge, UK and is listed on the US Nasdaq National Market under the symbol 'OLED'. More information on CDT can be found at: www.cdtltd.co.uk About Sumitomo Chemical Sumitomo Chemical Company, Limited is one of Japan's leading chemical manufacturers, offering a diverse range of products, including basic chemicals, petrochemicals, fine chemicals, IT-related chemicals, agricultural chemicals, and pharmaceuticals. Established in 1913, its products are now sold in more than 100 countries. Sumitomo Chemical's strong basic and applied research programs have yielded numerous products that have gained top market shares in global markets. More information is available about Sumitomo Chemical at: www.sumitomo-chem.co.jp/english Statements contained in this press release that are not historical facts are "forward-looking statements" and their presence may be indicated by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," the negative thereof and similar expressions. There can be no assurance that future developments affecting Cambridge Display Technology, Inc. and its subsidiaries will be those anticipated by management. Among the factors, risks and uncertainties that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements are the following: the outcomes of our ongoing and future research and development activities; our ability to form and continue strategic relationships with manufacturers of P-OLED materials and displays; future demand for products using our P-OLED technology; and our future capital requirements and our ability to obtain additional financing when needed. Readers should also consider the additional factors described under the caption "Business-Risk Factors" in our 10-K and 10-Q Reports filed with the Securities and Exchange Commission. Investors should not place undue reliance on such forward-looking statements and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Cambridge Display Technology