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LG Chem: To Invest KRW700Bln To Expand LCD Glass Subslate Facility

Post Time:Apr 20,2012Classify:Company NewsView:238


 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

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