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LG Electronics and Philips invest in CRT unit

Posted: 08 Jul 2004 ?? ?Print Version ?Bookmark and Share

Keywords:lg electronics? crt display?

LG Electronics Inc. and Philips Electronics NV will invest around $500 million in a joint venture devoted to the production of CRT displays. The two companies will each invest $250 million as an equity contribution.

The joint venture is in line with LG Electronics and Philips planned debt restructuring, which is expected to be completed within the year.

According to an LG Electronics spokesperson, the company's investment in the joint venture is a way of limiting its financial commitment to $300 million.

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