LG Philips LCD plans five billion dollar investment despite output glut
LG Philips LCD is to invest five billion dollars in new facilities to produce next-generation flat panel displays in order to strengthen its global market leadership.
The company said it would invest 5.29 trillion won (5.0 billion dollars) to build a "seventh generation" TFT-LCD fabrication plant in Paju, some 30 kilometers (20 miles) north of Seoul by early 2006.
Production at the plant will start sometime in the first quarter of 2006, using 45,000 input sheets of glass every month, gradually rising to 90,000 sheets depending on market conditions.
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