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17 Jun 2002
Philips Flat Display Systems (FDS), of the Netherlands, and LG Electronics of South Korea will jointly manufacture active matrix liquid crystals displays, under an agreement signed on 26 July.
Philips FDS is investing USD 1.6 billion and will gain a 50% stake in LG's wholly owned liquid crystal display business, LG LCD. The new company will be headquartered in Seoul, South Korea and will be jointly managed.
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