Has Merger Sounded Death Knell For LG's UK Chip Project.
The death knell for LG Semiconductor's $2bn Newport, UK-based
chip project may have been sounded by the successful completion of
merger talks between LG and Hyundai Group. The government body that
backed the project - the Welsh Development Agency (WDA) - has confirmed
that the plant may not now be completed, according to press reports.
The memory chip fab has been built but not yet fitted out with
production equipment. A spokesperson at the Newport site said that it
would be some time before the fate of the plant was decided.