LG Chem to invest in LCD glass plant

LG Chem Ltd., South Korea“s largest chemicals maker, announced on 23 September 2009 that it plans to invest KRW 3 trillion (USD 2.5 billion) to expand its liquid crystal display (LCD) glass plant by …

LG Chem Ltd., South Korea“s largest chemicals maker, announced on 23 September 2009 that it plans to invest KRW 3 trillion (USD 2.5 billion) to expand its liquid crystal display (LCD) glass plant by 2018. LG Chem schedules to increase its LCD glass production lines to seven by 2018 to enhance its competitive edge in the market, the company said in a regulatory filing. LG Chem plans to produce over 50 million sq.m. of LCD glasses per year, and expects to post more than KRW 2 trillion in sales in 2018. The company has started work on its LCD glass plant in Paju, north of Seoul, in which KRW 430 billion will be invested by 2012. According to the company, when the plant is completed, LG Chem will be the second largest maker of LCD glass in South Korea after Samsung Corning Precision Glass Co., a joint venture between Samsung Electronics Co. and US Corning Inc. In the first half of 2009, LG Chem signed a deal with Schott to use the German company“s technology in producing the glass for LCD panels