LG Philips LCD, a South Korean-Dutch joint venture, said Sunday it planned to build a plant for producing modules for liquid crystal display panels (LCDs) in Guangzhou, China. The global LCD maker said in a report to financial authorities here it signed the investment deal in May with the Guangzhou authorities in Guangdong province. Details on the deal were not available.
LG Philips has been expanding its global production network with the Guangzhou plant to be its second factory in China following one in Nanjing.
The company also broke ground on a new module plant in Wroclaw, Poland earlier this month.
In April, it completed one of the world's largest LCD production plants, worth 5.6 billion dollars, in Paju, north of Seoul. The plant will churn out 90,000 flat panels for LCD TVs every year, it said.
LG Philips, together with South Korea's Samsung Electronics, is one of the world's biggest LCD panel producers.
