LG's parts units to merge

SEOUL, April 2 (Yonhap) -- The two electronics parts makers of South Korea's No.
2 conglomerate, LG Group, said Thursday they have agreed to a merger, aiming to
establish a comprehensive parts manufacturing giant.
In respective meetings, the boards of LG Micron Ltd. and LG Innotek Co. finalized
the decision on a deal to merge with each other. LG Innotek will offer 0.47 of
its shares for each LG Micron share.
LG Innotek makes mobile phone components, while LG Micron produces
display-related components. The new company is expected to post annual sales of 3
trillion won (US$2.25 billion).
LG Electronics Inc., South Korea's leading appliances maker and LG Group's
flagship, owns 50 percent of LG Innotek and 52 percent of LG Micron.
ygkim@yna.co.kr
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