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LCD maker plans $1 billion expansion

LG Philips LCD, which manufactures liquid-crystal displays, announced Monday a $1 billion additional investment to further expand its production capacity. The company is looking to increase panel supply to the fast-growing LCD TV market and to makers of large-screen desktop monitors. Established in July 1999, the Seoul, South Korea-based manufacturer is a 50-50 joint venture of Royal Philips Electronics and LG Electronics. The investment will be self-financing, with no additional funding required from either partner. Production will begin in the first half of 2003. LG Philips expects demand for flat-panel-based TVs and desktop monitors to drive the need for LCDs. The company recently opened the doors to a new plant that will allow it to produce more large LCD panels for computers and TVs faster and more cost efficiently than it could with previous plants.

LG Philips LCD, which manufactures liquid-crystal displays, announced Monday a $1 billion additional investment to further expand its production capacity. The company is looking to increase panel supply to the fast-growing LCD TV market and to makers of large-screen desktop monitors. Established in July 1999, the Seoul, South Korea-based manufacturer is a 50-50 joint venture of Royal Philips Electronics and LG Electronics. The investment will be self-financing, with no additional funding required from either partner. Production will begin in the first half of 2003.

LG Philips expects demand for flat-panel-based TVs and desktop monitors to drive the need for LCDs. The company recently opened the doors to a new plant that will allow it to produce more large LCD panels for computers and TVs faster and more cost efficiently than it could with previous plants.