LG Philips Displays to close plants

LG
Philips Displays is closing plants in Wales and England, at the cost of 941
jobs.

At
Newport, 870 jobs will be lost when production ceases in the middle of August,
while 71 jobs will go at Southport when that plant closes at the end of this
year or early in 2004.

The
company said the decision was based on business and economic conditions,
characterised by an increasingly competitive and consolidating industry.

Phil
Styles, general manager of manufacturing at Newport, said: “The decision to
close was made with great regret and is based solely on the continuing adverse
business situation. It in no way reflects on the performance of the employees
at the plant, who have worked hard and demonstrated considerable commitment
over these past five years.”

LG Philips
Displays said it is committed to help employees develop skills and
opportunities to find new jobs.

By Quentin Reade

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