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Electronics Production | August 18, 2006

LG shut down UK plant, axe 315

The LG Electronics LCD-plant in Newport, south Wales will close at the end of the year with the loss of 315 jobs.
LG Electronics said that this decision was due to economic pressures and was made with "great regret." The company said that the closure mostly depended on the falling prices of LCD computer monitors and increased competition. One worker told BBC News website that staff were called in at 1200 BST to be informed of the decision and sent home for the day.
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