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Group25_LGPoland - Factiva...

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UPDATE: LG Electronics To Invest $70M To Boost Appliance Production In Poland 290 words 30 August 2010 23:13 Dow Jones International News DJI English (c) 2010 Dow Jones & Company, Inc. (Adds detail from statement) By Jung-Ah Lee OF DOW JONES NEWSWIRES SEOUL (Dow Jones)--South Korea's LG Electronics Inc. (066570.SE) Tuesday said it will invest $70 million by 2015 to expand its appliance production facilities in Wroclaw, Poland to lower costs and increase its market presence in Europe. LG, South Korea's second-largest electronics maker by revenue after Samsung Electronics Co., said it will increase the productions of washing machines and refrigerators in Poland. Its Wroclaw plant will produce 700,000 units of washing machines annually. Starting in 2012, the Polish plant's output of refrigerators will also expand to 1.4 million units from the current 300,000 units, LG said in a statement. "Given that demand in Europe often has to be met with machines manufactured in China or South Korea, LG expects the increased capacity
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