Nanoco Says Commissioning Of Cheonan Plant Under Way By Partner Dow; Stock Up

(RTTNews) - Nanoco Group Plc's (NANO.L) shares gained around 3 percent in London trading after the maker of semiconductor materials used in LCD displays confirmed Wednesday that commissioning of the Cheonan, Korea, quantum dot facility being built by The Dow Chemical Co. (DOW) is under way and customer sampling is expected to begin in the third quarter.

Dow Chemical is Nanoco's worldwide licensing partner for quantum dots in the display industry.

Michael Edelman, Nanoco's Chief Executive Officer, said, "We are pleased with the progress that Dow has made in the construction of the cadmium-free quantum dot plant in South Korea. Orders for cadmium-free quantum dots will continue to be satisfied from Nanoco's production facility in Runcorn, UK, until the time that the Cheonan plant enters commercial production." In London, Nanoco shares were trading at 96.50 pence, up 2.66 percent.