LG Chem has signed a deal with Nanjing City in China to set up a local subsidiary to produce TFT-LCD polarizers.
The project will see LG Chem invest $15 million until 2004, for a facility with capacity of 14 million sets.
Polarizers are multi-layered optical films for the transmission of light in TFT-LCD modules. The polarizers are used in devices like laptop computers, computer monitors, televisions etc. Currently there are only 4 companies in the world that have the technology to produce them.
LG Chem is looking to increase its market share in the rapidly growing Chinese market place. With more display manufacturers locating operations in China, the market for TFT-LCD devices is expected to grow by a factor of 10 by 2006.
LG Chem are so committed to the Chinese market that they also expect to construct another polarizer plant in China by 2006.
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