“Guangdong Province is clustered with our Chinese client companies, such as Skyworth, basket louboutin Konka and TCL,” said Han escarpin louboutin Sang-bum, the CEO of LG Display. “We will be able to supply them with products on a timely basis and gain a competitive advantage by manufacturing products locally.”
The company can drastically scale back its logistics costs due to the proximity of its clients, while also benefiting from preferential tariffs (3.5-5 percent), it said.
In 2009, LG Display signed an MOU with the city to build the plant based on an investment of US$4 billion in sneakers louboutin the province famous for its dense concentration of manufacturers. But the Korean company was forced to wait as the central Chinese government delayed approval and the global LCD market sagged last year.
In 2011, China emerged as the world’s largest TV market ahead of North America and West Europe, with 44.52 million LCD TVs sold.
LG Display broke ground on a plant to produce LCD TV panels in Guangzhou, Guangdong Province on Tuesday as it aims to secure a production louboutin cendrillon base in China, the world’s largest LCD TV market. This came 18 months after LG obtained approval for the plant from Beijing.
The facility, an 8th-generation LCD plant that will produce panels for 50- to 55-inch TVs, will be built on a plot measuring 695,000 sq. basket louboutin m in an industrial district in the southern city. It is due to louboutin homme be completed by the first half of 2014, with mass production to begin later that year.
LG Display will take a 70 percent stake in the plant, with the district and Skyworth, a Chinese home appliance maker, splitting the remaining 30 percent.
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