Electronics Production |
LG Philips to shut down UK fab
LG Philips is to close its LCD factory in Durham, UK. about 760 jobs are affected.
According to British News Paper The Guardian the firm blamed a shift in demand from Europe to Asia Pacific. Production at the plant, which makes cathode ray tubes for TVs, will be halted at the end of July 2005.
Plant director David Coppock said to The Guardian that prices had fallen by 30% over the last two years. "The plant has incurred heavy losses and with no sign of recovery, we simply cannot sustain this position any longer."
