JV of Tostem and LG Group to Establish Al Sash Factory in South Korea

LG Tostem, a joint venture of Tostem and South Korea based LG Hausys, establishes a factory in Chungcheongbuk-do in South Korea, announced on Thursday. The capital expenditure is about 10 billion yen or 820 million yen and Tostem capitalizes 49%. LG Tostem manufactures aluminium sash and metal curtain wall at the new factory. The firm plans to start the construction in March and the factory is scheduled to launch the operation in August. LG Hausys is a company in LG group.

LG Tostem manufactures aluminium sash and metal curtain wall and the firm was established in April 2009 when Tostem and LG Hausys expected aluminium sash demand increase in South Korea. LG Tostem aims to increase the production capacity by the establishment of the new factory. The factory site is 36,300 square meters and the workforce is planned to be about 70.