Post Time：Apr 20,2012Classify:Company NewsView：243
LG Chem Ltd. (051910.SE), South Korea's largest chemical company by sales, said Friday it will invest KRW700 billion ($615 million) to expand its facility for producing liquefied crystal display glass subslates.
The investment will be executed starting April 30, throughout to March 31, 2014, LG Chem said in a regulatory filing. It didn't say how much capacity will be increased through the planned investment.
LG Chem, whose petrochemicals business accounted for nearly 80% of its total sales in the first quarter, also produces information-technology and electronics materials including lithium-ion batteries.
The LCD glass subslate facility, which is slated to start production June, is a part of the company's new business in the area of information-technology and electronics materials, a company spokesman said by phone.
Source: http://www.foxbusiness.comAuthor: shangyi
