Sharp investing $53M in Polish plant

Sharp Corp. plans to invest at least $53 million in a plant making LCD TV screens in Poland, the government said last week in a Market Watch report.

In the initial phase, the plant, to be located near Torun in central Poland, will employ 800, the government reportedly said in a statement with production set to begin in January 2007.

According to the report, Sharp chief executive Katsuhiko Machida said that by 2010 Sharp will invest $181 million in the project. He added that together with investments in supplying and cooperating companies, the project value could double or even triple the $181 million.

Earlier, Polish officials were quoted as saying that by 2010 the plant could employ 3,700, while the total number of jobs created by Sharp and its contractors could reach 10,000.

Sharp continues to ramp up its LCD manufacturing. In February, Sharp said it was accelerating the expansion of its Kameyama No.1 fab to 60,000 substrates following an investment of $130 million.

- Spencer Chin
EE Times