LG Electronics to Invest in Solar Cell Production Line

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2008-10-21 09:09

Seoul--(뉴스와이어)--LG Electronics (LG), a global leader and technology innovator in consumer electronics, decided at its board of directors meeting held on October 20 to convert its A1 plasma panel-manufacturing line in Gumi, Korea, into a solar cell production line.

In addition, LG plans to invest KRW 220 billion by 2010 to establish two production lines. The company expects that the first line will be able to begin mass production from the first quarter of 2010, with the second line beginning full operations in the first quarter of 2011. Both lines will manufacture crystalline silicon solar cells and modules with a capacity of 120MW each.

“Leveraging LG’s cumulative R&D knowledge in various photovoltaic technologies for the last three years as well as our mass manufacturing expertise will allow us to quickly become a global player in the solar cell and module manufacturing business,” said Kwan Shik Cho, head of the Solar Cell Business Team at LG Electronics.

LG currently operates a solar cell business team under its chief technical officer (CTO). The company has also progressively accumulated R&D knowledge to further expand its business into the solar energy industry as a new growth engine. As a part of this strategy, LG Electronics acquired solar cell business by transfer from its sister company, LG Chem Ltd., in June 2008.

Industry experts forecast that crystalline silicon solar cells will make up the 80 percent of solar business, in contrast to thin film solar cells. Crystal silicon solar cell utilizes silicon wafer, while thin film solar cell coats light absorption layers and electrodes from various materials on a substrate, meaning thin film solar cell is relatively inexpensive but low in efficiency. Currently, the global solar industry market is valued at more than USD 10 billion dollars.

About LG Electronics, Inc.

LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD 44 billion, LG is comprised of four business units - Mobile Communications, Digital Appliance, Digital Display and Digital Media. LG is the world’s leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems. For more information, please visit www.lge.com.

LG Electronics 개요
LG Electronics Inc., (KSE: 06657.KS) is the leader in consumer electronics and mobile communications. The company has more than 72,000 employees working in 77 subsidiaries and marketing units around the world. LG Electronics is the world’s largest producer of CDMA handsets, residential air conditioners, optical storage devices and home theatre systems. With total revenue of more than USD 35 billion (consolidated USD 45 billion), LG Electronics is comprised of four business units: Mobile Communications, Digital Appliance, Digital Display and Digital Media. For more information, please visit www.lge.com.

웹사이트: http://www.lge.com