OLEDWorks announced that it plans to increase capacity in its OLED lighting fab in Lyell Avenue, Rochester, NY. OLEDWorks will invest $73.6 million in the new production line, and the company will get $2.5 million in state tax credits. OLEDWorks said it will hire 100 new employees for this fab "over the next five years".
A couple of months ago OLEDWorks announced it will acquire the key parts of Philips OLED lighting business, including the OLED lighting production fab in Aachen, Germany. It seems that OLEDWorks intends to operate two production lines - in the US and in Germany. Financial details of that deal have not been disclosed - it'll be interesting to see where OLEDWorks will get the money for the acquisition and the new fab in Rochester.
