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Article: China : LG Display signs deal for China plant, to own 70 pct.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
South Korea's LG Display Co Ltd (034220.KS: Quote, Profile, Research), the world's No. 2 maker of LCD screens, said on Tuesday it had signed a deal with the Chinese city of Guangzhou to go ahead with a proposed $4 billion panel plant in China.
Asian panel makers are rushing to increase their presence in China, which is expected to become the world's biggest market for liquid crystal display (LCD) televisions within a few years.
Research firm DisplaySearch expects the Chinese LCD TV market will grow to 40.8 million units in 2012 from 25 million in 2009, overtaking North America and Western Europe.
LG Display had signed a ...