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LG Display to invest 2.6 billion dollars for flat screens

by Staff Writers
Seoul (AFP) July 15, 2009
South Korea's LG Display Co., one of the world's top LCD panel makers, said Wednesday it would invest 3.27 trillion won (2.6 billion dollars) to meet the growing demand for flat-screen televisions.

The company on Wednesday held a board meeting and approved a plan to expand its LCD display production lines at its plant in Paju, 25 kilometres (16 miles) north of Seoul, it said.

"The company has been experiencing a shortage of 20-30 percent" in its supply to meet swelling demand, the company said in a statement.

It plans to start production at the new facility in the second half of 2010, the statement said.

LG Display and local rival Samsung Electronics lead the global flat panel screen market.

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