LG.Philips LCD, a global leader in thin-film transistor liquid crystal display (TFT-LCD) technology, will build a module plant in Wroclaw, a city in southern Poland. The company signed an investment agreement with the governments of Poland and the municipality of Wroclaw.
The "back-end" module production plant will be the first of its kind in Europe. With a planned investment of 429 million euros (U.S. $527 million) by 2011, the plant will be built for a capacity of 11 million units annually.
LG.Philips LCD, based in Seoul, South Korea, will break ground in the first half of 2006 and commence mass production in the first half of 2007 when construction of the first module lines is completed, expected to have an annual capacity of 3 million units.
"Our planned production facility in Poland is an important step for LG.Philips LCD, as we establish our manufacturing expertise in the geographic center of Europe," said Vice Chairman and CEO, Bon Joon Koo. "With this first major factory outside of Asia, LG.Philips LCD will better serve the rapidly growing European LCD TV market. As we implement our strategic plan for the future, we are proud to broaden the reach of our industry-leading LCD technology and expand our customer intimacy as we bring our products closer to our customers. We are grateful to the Polish government and the city of Wroclaw for their support and cooperation in this great partnership."
The signing ceremony was held at the official Warsaw residence of the prime minister of Poland. Present were LG.Philips LCD Vice Chairman and CEO, Bon Joon Koo, and President and CFO, Ron H. Wirahadiraksa, as well as Poland's Prime Minister Marek Belka, Minister of Economic Affairs and Labor Jacek Piechota, and Wroclaw Mayor Rafal Dutkiewicz.
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