LG Electronics begins operations of new refrigerator plant in Brazil
SEOUL, Aug. 16 (Yonhap) -- LG Electronics Inc., a major home appliance maker in ...
LG Electronics, a leading home appliance maker based in South Korea, inaugurated a new manufacturing plant in Brazil on Sunday, expanding its operations in the South American market, according to Yonhap news agency. Brazil, a country with an economy ranking as the world's 11th largest, has seen a significant increase in purchasing power among lower-income households, boosted by government support programs.
The new plant, located in the southern state of Paran, is LG Electronics' second manufacturing facility in Brazil. It boasts an annual production capacity of 600,000 refrigerators, complementing its existing facility in Amazonas state, which is projected to contribute to an annual local production capacity for appliances of over 7 million units.
The purpose of the new plant is to produce premium and locally tailored appliances to enhance cost competitiveness amid growing domestic demand, while also functioning as an export hub for neighboring nations.
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Also reported by 1 other outlet
- LG Electronics begins operations of new refrigerator plant in Brazil koreatimes.co.kr
