ID :
18946
Thu, 09/11/2008 - 19:08
Auther :
Shortlink :
http://m.oananews.org//node/18946
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LG agrees on joint cell venture with German firm
SEOUL, Sept. 11 (Yonhap) -- LG Electronics Inc., South Korea's second-largest electronics maker, said Thursday it agreed to set up a joint venture with Germany's Conergy AG to produce solar cells.
To this end, LG will acquire a 75-percent stake in Conergy's solar cell plant in
Frankfurt an der Oder, Germany, as part of the agreement, the Korean company said
in a statement. Financial terms weren't disclosed.
The partnership with Conergy, Germany's second-largest solar company, is expected
to officially begin by the end of the year following a due diligence period,
according to LG.
To this end, LG will acquire a 75-percent stake in Conergy's solar cell plant in
Frankfurt an der Oder, Germany, as part of the agreement, the Korean company said
in a statement. Financial terms weren't disclosed.
The partnership with Conergy, Germany's second-largest solar company, is expected
to officially begin by the end of the year following a due diligence period,
according to LG.
