LG Electronics to build appliance plant in Poland

LG Electronics Inc., South Korea's second-largest consumer electronics maker, said Tuesday it will construct a new home appliance factory in Poland targeting European market.

Construction of the new US$103 million plant in Poland's Wroclaw region will be completed by 2011, the company said.

"LG Electronics plans to break ground on the new plant in Wroclaw, 343-km southwest of Warsaw, in the first half of next year before beginning gradual production from the end of 2006," said the company after its board of directors meeting in St. Petersburg, Russia.

LG Electronics aims to produce 500,000 refrigerators and 3.5 million liquid crystal display TVs in the Polish plant every year.

Notably, Wroclaw is also the site where LG.Philips LCD, one of the world's leading LCD makers, plans to build a $530 million LCD factory by 2011. LG.Philips is a joint venture between LG Electronics and Royal Philips Electronics of the Netherlands.

LG Electronics looks forward to becoming the world's top appliance maker by 2007 by posting $14 billion in global sales.

(Source: Yonhap news)

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