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October 15, 2009

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LG Display JV to build US$4b plant

SOUTH Korea's LG Display said yesterday that it would set up a joint venture for a proposed US$4 billion LCD plant on China's mainland, as Asian panel makers rush to increase their presence in the mainland's fast-growing TV market.

LG Display, the world's No. 2 maker of liquid crystal display screens, signed a non-binding agreement in August with Guangzhou in south China's Guangdong Province to build the plant.

Details, including LG Display's ownership in the joint venture and the timing of the investment, had not been decided, but LG Display aimed to start mass output from the plant in 2012, a company spokesman said.

The plant will use eighth-generation mother glass, capable of making large panels for popular LCD TVs.

Leading LCD makers in South Korea and Japan are considering or have began negotiations to manufacture panels on the mainland, while in the past they only kept back-end assembly lines in the country to protect advanced technologies.

China's mainland is set to overtake North America to become the world's biggest TV consumer in two to three years, Taiwan's AU Optronics said.


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