LG Electronic (Tianjin) Electric Appliance Co. Ltd. in North China's Tianjin Municipality has reportedly become the biggest household electric appliance production base in North China after 9 years of development.
The company is a joint venture between LG Electronic of the Republic of Korea (ROK) and the Tianjin Municipal No. 2 Bureau of Light Industry.
Since it started production in October 1996, the joint venture has generated 32 billion yuan (approx. U.S. $ 3.9 billion) in total output value, made a combined investment of more than 3.2 billion yuan, and handed over taxes amounting to 450 million yuan.
Covering an area of 67.8 hectares, the company now has total assets of 6.0 billion yuan, and employees of 4,000. Its six factories now produce products in six categories: air-conditioners, microwave ovens, vacuum cleaners, compressors, motors, and magnetrons.
The company has won many honorable titles in China, including the best foreign-funded enterprises in Tianjin. It ranks among the first three in business volume and export in this port city. (Asia Pulse)
to Daily News