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LG Display Opens First Overseas LCD Panel Plant in China
2014-09-01
Seoul, Korea (Sept. 1, 2014) – LG Display, the world’s leading innovator of display technologies, announced today that it held an opening ceremony of its first overseas LCD panel fabrication plant in Guangzhou, China, expanding its presence by adding to its existing module assembly plant in the city.
With plans to mass produce 40-plus-inch large-size LCD panels for TVs in the 8.5th generation plant, LG Display will further enhance its competitiveness in China, the world’s largest LCD TV market, thereby strengthening its leading position in the global market.
The new 8.5th generation (2,200mm x 2,500mm) LCD panel plant will be operated by LG Display China (LG Display China Co., Ltd, LGDCA), a joint venture between LG Display, the Guangzhou Development District (GDD), and Skyworth, one of the leading Chinese TV manufacturers and strategic partner to LG Display. LG Display contributed 70 percent of the $4 billion investment in the plant on the 330,000㎡ site, while GDD and Skyworth contributed 20 percent and 10 percent, respectively.
“By operating our first overseas LCD panel plant in China which has now became the world’s biggest TV market, we are going to further strengthen our position in the country,” said Dr. Sang Beom Han, CEO and President of LG Display, at the ceremony attended by top executives from LG group, representatives of major Chinese TV manufacturers and government officials from China and Korea. “Based on our success in China, LG Display will continue to lead the global display market,” he added.
The LG Display China facility will mainly focus on producing 42-inch, 49-inch and 55-inch Ultra HD and Full HD panels, aiming to advance its leadership in the Chinese premium TV market. The company will produce 60,000 sheets per month based on input glass sheets in the initial stage of operation and achieve full capacity of 120,000 sheets per month by the end of 2016.
The Guangzhou panel plant will enable LG Display to solidify its competitiveness in China as well as the global market by saving costs, improving on-time local delivery, and providing fast technical support to Chinese customers.
LG Display is confident that the Guangzhou plant will improve production efficiency. The company believes that maximizing production efficiency, combined with differentiated strategies such as making high-end, high value-added products and developing niche markets, will maintain its global leadership. The company is expecting improved cost advantages in terms of logistics and lower tariffs by locating in Guangzhou, close to major Chinese TV makers, including Skyworth, Konka, and TCL, operating in Guangdong Province.
The Guangzhou panel plant also has achieved a landmark by being recognized by the Chinese government as the country’s first ‘Green Plant’ after it passed a stringent certification process as part of the “Green China Policy.”
In being recognized as China’s first “Green Plant,” the new LG Display facility had to pass China’s Certification System as well as seven international certifications, including Environmental Management (ISO14001) and Safety and Health Management (OHSAS18001). This reflects LG Display’s commitment to creating an environmental-friendly production strategy, which was highlighted by applying the international standard system from the initial stage of the Guangzhou panel plant’s construction.
Until now, LG Display’s overseas production operations have focused on the manufacturing of modules in Nanjing, Guangzhou and Yentai in China as well Wroclaw, Poland and Reynosa, Mexico to better serve worldwide customers. The addition of the LCD panel plant in China will further bolster the LG Display’s local production base.
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Reference
LG Display’s Guangzhou panel plant has received total seven international standard certifications as following:
Environmental Management (ISO14001), Safety & Health Management (OHSAS18001), Quality Management (ISO9001), RoHS (GB/T26125, 26572), Carbon Footprint (PAS2050), Greenhouse Gas Emission (ISO14064-1), and Energy Management (ISO50001)
About LG Display
LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies including thin-film transistor liquid crystal displays (TFT-LCD), OLEDs and flexible displays. The company manufactures and provides display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, and various other applications including tablets, mobile devices. LG Display currently operates eight fabrication facilities in Korea and seven back-end assembly facilities in Korea, China, Poland, and Mexico. The company has a total of approximately 53,000 employees operating worldwide. For more news and information about LG Display, please visit www.lgdnewsroom.com.
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Contact:
Bang-Soo Lee, Senior VP, Public Affairs & PR Jean Lee, Manager, Corporate PR
LG Display LG Display
Phone: +822-3777-1020 Phone: +822-3777-1689
E-mail: bsleeb@lgdisplay.com E-mail: jean.lee@lgdisplay.com