LG Chem To Spend $2.5 Bln In LCD Glass Plant By 2018

Date: 25 September 2009
Source: Reuters
SEOUL, Sept 23 (Reuters) - South Korea's chemicals and electronic materials maker, LG Chem (051910.KS), will invest 3 trillion won ($2.5 billion) by 2018 in an LCD glass production facility, its parent group said on Wednesday.

LG Chem, a sister company of the world's second-largest LCD panel maker, LG Display Co Ltd (034220.KS), broke ground for a new LCD glass substrate plant in Paju, north of Seoul, in which the company plans to build seven production lines for LCD glasses.
The spending plan was higher than previously stated plans, for investment of 430 billion won on liquid crystal display (LCD) glass production until March 2010.
It also came after an earthquake last month disrupted glass production in Japan and stoked concerns that shortages could intensify.
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