Doosan to spin-off its OLED materials business

Korea-based Doosan Corp is planning to spin-off its OLED materials unit. The company's shareholders approved the plan. The new company will be called Doosan Solus, and will list on the Korean stock market on October 1st.

Doosan Solus will take over Doosan's OLED materials unit, which produce host materials for OLED displays. The company will also produce battery foil materials and bio components used in cosmetics and pharmaceuticals.

In 2015 Doosan signed a business arrangement and cross-patent agreement with Idemitsu Kosan to cooperate on OLED manufacturing.