LG Loses Production Following Fire

LG Display had a fire at its Paju site on Wednesday that started in a construction area for the P10 factory due to start operation next year. Aju Business Daily reports that the problem was caused by workers cutting steel near tanks packed with foam. Employees were evacuated to the roof of the factory according to the Korea Herald and nine were taken to hospital, although none was seriously hurt.

Production was stopped for around fourteen hours in some of its LCD and OLED production lines according to the Yonhap news site and confirmed by Maeil.

LG Display FireLG Display’s Fire. Image:Yonhap News

Analyst Comment

Although this event might cause some disruption, it should not have a significant impact on shipments or LG’s results, although the cost of the stop will probably run into millions of dollars. (BR)