Polish LG factory produces 10 millionth LCD

Despite the global downturn, LG Display, a Korean LCD monitor producer, has been extending investment in Biskupice Podgórne (Dolny Śląsk). Several days ago a 10th million monitor was produced there.

LG Display, the second largest LCD screen producer in the world, employs almost 1,500 people in its only European factory situated in Biskupice Podgórne and ranks among the biggest employers in the south-western Polish province of Upper Silesia. So far the company has invested over 230 mln USD in Poland.
Last May LG inaugurated a new production line and hired over 100 new workers. The facility is now able to produce as many as 650 thousand LCD modules a month.
According to analyses concerning the sector, 2009 may see 127 mln monitors produced. In Europe, the major target market for the Poland-based LG factory, TV set sales are expected to rise by 17.5 % and should exceed 41 mln sets.
In 2006 LG together with several other TV subassembly manufacturers, created the so called technology cluster offering jobs to over 7,500 people. Modules produced by LG Display supply mainly TV manufacturers in Poland (LG Electronics and Toshiba) and Hungary.
Outside Polad LG Display has factories in Korea and China. The factories generate round 20% of world LCD monitors. (PAIIZ)

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

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