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LG.Philips Displays to close Newport, Southport plants

Posted: 27 May 2003 ?? ?Print Version ?Bookmark and Share displays? cdt? cpt? tv receiver? monitor?

LG.Philips Displays has announced its plan to shut down plants in Newport, Wales and Southport, England. According to the company, the decision is based on business and economic conditions, which are characterized by an increasingly competitive and consolidating industry.

The plant at Newport produces CDT for monitors and CPTs for TV receivers, as well as deflection yokes. The primary reasons for the plant's closure is due to the sharp decline in the market for CDTs caused by the increasing competition from other display technologies also supplying products for use in computer monitors, and the severe downward pressure on prices for CDTs and CPTs.

The Southport plant produces ferrite powder for deflection yoke rings, which are used in the production of computer and TV tubes. LG said the decision to close the plant was taken when it became clear the site was simply no longer viable. This is because the powder it produces for the manufacture of TV tubes can now be sourced much more economically in China. Tool supplies can now also be provided by local manufacturers to the LG.Philips Displays plants in China and Poland.

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