Samsung Electronics Inc to Build a new LCD-TV plant in Slovakia

The investment in building the LCD-TV factory will be €320 million ($423 million). to build an LCD factory in Slovakia, Slovak Economy Minister Lubomir Jahnatek said. Samsung will employ 1,200 people at the plant to be built near Trnava, about 50 kilometers (31 miles) from Bratislava, the Slovak capital. Samsung’s plant will be the third-biggest greenfield investment in the country after carmakers Kia Motors Corp. and PSA Peugeot Citroen invested €1 billion and €700 million, respectively, to open two factories last year.

The Samsung plant will be capable of producing 10 million LCD modules a year by 2012, with expected yearly sales of $3.1 billion, the minister said. Production at the factory will start in March 2008 and reach half the capacity by December.

Samsung already makes TVs and audio gear at a factory in Galanta, southwestern Slovakia. Last year, it also opened a logistics center, bringing its investment in the eastern European country to €131 million