LG hits for the second time
The president of LG, Soeng Ho No, and the Polish Minister of Economy and Labour, Jacek Piechota, signed a contract on the new project last week. The plant will be spread over 38 hectares and construction will start this month. Some 2,100 people will work to produce six million plasma TV sets and LCDs annually. Mława was chosen because of its location in the Special Economic Zone, which guarantees tax relief until 2017.
LG wants to be number one on the digital TV market, by becoming Europe's top plasma TV and LCD screen producer. Their chances are high as demand for these products is growing rapidly. LG will spend $110 (zł.350) million on its investments in Poland by the end of 2010. It is estimated that in five years' time LG Electronics' turnover in Poland will increase to $3 (zł.9.5) billion.
In the neighborhood of the new plant, a special zone will be offered to cooperators, which will result in creating another 5,000 jobs. Moreover, LG has also signed a contract with Politechnika Ciechanowska, which is a basis for starting a new R&D center. It will provide jobs to the school's graduates who already participate in a special training program adjusted to LG's needs.
"It is another LG Electronics investment in Poland, which translates into the arrival of new technologies and several thousands jobs," said Minister Piechota.
The deal was signed after long negotiations between LG and the Polish Agency of Information and Foreign Investment.
LG wants to be number one on the digital TV market, by becoming Europe's top plasma TV and LCD screen producer. Their chances are high as demand for these products is growing rapidly. LG will spend $110 (zł.350) million on its investments in Poland by the end of 2010. It is estimated that in five years' time LG Electronics' turnover in Poland will increase to $3 (zł.9.5) billion.
In the neighborhood of the new plant, a special zone will be offered to cooperators, which will result in creating another 5,000 jobs. Moreover, LG has also signed a contract with Politechnika Ciechanowska, which is a basis for starting a new R&D center. It will provide jobs to the school's graduates who already participate in a special training program adjusted to LG's needs.
"It is another LG Electronics investment in Poland, which translates into the arrival of new technologies and several thousands jobs," said Minister Piechota.
The deal was signed after long negotiations between LG and the Polish Agency of Information and Foreign Investment.
