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LG Display and Amtran partner up on LCD plant

updated 04:30 pm EDT, Mon September 1, 2008

LG and Amtran partnership

A Monday report has LG Display and Amtran - maker of Vizio LCDs - agreeing to set up a joint production plant to manufacture LCD panels and TV sets for their brands in China. Under the agreement, Amtran's existing facility in Suzhou, China, will see a $20 million initial investment. The new plant, due to commence operation early next year, will produce 3 million LCD modules along with 5 million LCD TV sets.

South Korea-based LG Display will own 51 percent of the new company, while Taiwanese Amtran will retain the remaining 49 percent stake. LG Display is the world's second-largest LCD panel maker behind Samsung, and the new venture will help it cut costs while increasing the number of its clients in today's competitive market that is in a current down-turn.

by MacNN Staff





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