SKorea's LG Display signs deal for plant in China

South Korea's LG Display said Tuesday it has signed an agreement to help set up a four billion dollar plant to make liquid crystal display (LCD) panels in southeast China. The company, the world's second-largest flat panel maker, said production from the plant in Guangzhou city would begin in 2012 to meet growing demand in one of the world's fast growing markets for flat-screen televisions. A joint venture will be set up, with LG owning 70 percent and the remainder held by Guangzhou city and a Chinese LCD TV maker. Market researcher DisplaySearch said China is expected to become the world's biggest LCD TV market, with projected sales of 25 million units in 2009 and 41 million in 2012.

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