Taiyo Nippon Sanso Corporation (TNSC) has continued its enhanced business strategy after announcing its investment in fellow Chinese organisation Jilin OLED Material Tech Co., Ltd.
Although specific financial details of the investment were not disclosed, it is known that through this investment, TNSC has acquired the exclusive sales rights of Jilin OLED’s products in the global market.
Jilin OLED, headquartered in Changchun in the north east of China, is a high tech company engaged in the manufacture, sales and technological service of organic light-emitting diode (OLED) materials.
This latest addition continues the Tier One’s venture investments to acquire value-added and differentiated products, as part of an open innovation strategy in its medium-term management plan.
Global customer base
The industrial gas company plans on using Jilin OLED’s expanding customer base and business markets, both nationally and worldwide, to leverage its own sales network and corporate brand, by combining the newly acquired OLED products with its own electronic products.
The OLED industry is strongly supported financially by the Chinese government, and so demands for these goods in the North Pacific rim country is set to grow.
TNSC previously announced its new partnership with US-based, desulphurisation sorbents company, SulfaTrap LLC, in January 2016. As part of its open innovation strategy, TNSC has signalled its intent to invest in companies to enhance its portfolio of new businesses, products and technologies in the energy, gas applications and electronic markets.