Seeking to product LCD screens fast and efficiently while also keeping up with demand in Europe for flat screen TVs, LG Electronics, LG Philips LCD, LG Innotek and LG Chem have opened a European LCD cluster in Wroclaw, Poland. Thee other component makers from South Korea are also housed in the cluster, making it a one-stop-shop for manufacturing all the components to make the TV sets.
LG said it has invested about €400 million in creating the cluster and has an additional €407 earmarked for further expansion in 2011. Approximately 4,200 local jobs have been created. "With this highly efficient one-stop manufacturing system, we can provide faster response to regional customers and markets while increasing competence in cost and price," said Yong Nam, Vice Chairman and CEO of LG Electronics.
Nam continued: "As the demand for LCD TVs is increasing more rapidly in Europe than any other region, the Poland cluster will play a core part in LG's overall LCD-related businesses." The company says it invested in Poland due to geographic location, a competitive workforce and support from the Government.
Source:
ABC Money
Nam continued: "As the demand for LCD TVs is increasing more rapidly in Europe than any other region, the Poland cluster will play a core part in LG's overall LCD-related businesses." The company says it invested in Poland due to geographic location, a competitive workforce and support from the Government.
Source:
ABC Money
