The backer stepping in to boost the fortunes of UK light emitting polymer pioneer Cambridge Display Technologies Ltd (CI No 3,230), is none other than former Cable & Wireless Plc chairman and UK Secretary of State for Trade & Industry Lord Young. Details are due to be announced today, but it is believed Lord Young, now chairman of Young Associates, will head a group of entrepreneurial investors in a multi-million pound deal with Cambridge Display. Lord Young will apparently also take an active role in the company, particularly with a view to promoting the patented light emitting polymer technology in Japan. Following his fairly hasty departure from Cable & Wireless last year (CI No 2,945), Lord Young currently heads the European Union Japan Business Forum, and will no doubt be able to open further doors for the company, which has already seen considerable interest from Japan. Cambridge Display last year entered into a partnership with the Bank of Tokyo Mitsubishi Ltd, and has set up a joint venture with an unnamed major Japanese manufacturer to develop high end consumer products such as miniature televisions, using light emitting polymer displays instead of cathode ray tubes.
