26 March 2004 02:46 [Source: ICIS news]
SINGAPORE (CNI)--LG Chem held a dedication ceremony on Friday for its Ochang Techno Park, Choong-Chung province, South Korea, marking the completion of its rechargeable battery and liquid crystal display (LCD) polariser manufacturing facilities.
The Ochang Techno Park is an industrial complex for the production of various Information & Electronic materials (I&EM) including rechargeable batteries, optical materials, materials for semiconductors and energy storage devices.
The plant was launched about one year ahead of schedule and the formal inarguration of the facility comes about one week after LG Philips LCD, an LG Electronics joint venture with Dutch electronics giant Philips Electronics NV, announced plans for a new $21.6bn (Euro17.8bn) facility for the manufacture of LCD screens.
LG Chem’s new complex will raise the company’s polarising film capacity to 9.3m square metre/year from 3.8m square metre/year. Polarisers are a multi-layered optical film, primarily used in LCD panels.
LG Chem’s output of rechargeable lithium-ion and lithium-ion polymer batteries will rise to 18m cells/month from 10m cells/month of currently. The recharable batteries are in high demand for use in laptop computers, mobile phones and other portable devices.
The establishment of the complex is part of the LG Chem’s ambition to become a leader in the I&EM business by investing approximately Won1trn ($865m/Euro713m) by 2010 in its new complex. Over Won300bn has already been invested in the construction of plants at this complex.
By 2005, LG Chem will wrap up the first phase of construction at Ochang, producing rear projection television (RPTV) screens and plasma display panel (PDP) filters.
LG Chem plans to increase the portion of its I&EM business from its current 8% to 20% by 2005.
Additionally, to complete the long-term investment plan of its I&EM business, LG Chem will initiate the second phase of the complex in 2006. Once the project is completed by its scheduled year of 2010, the company’s production of I&EM in the complex will expand to chemical mechanical polishing (CMP) slurry, hybrid electric vehicle (HEV) batteries, fuel cells and other display materials.
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