[THE INVESTOR] LG Hausys, a building material making unit of LG Group, said on Sept. 10 that it has decided to invest US$50 million in the United States to expand its production facility of engineered stone.
The new facility -- set to be completed in Georgia by December 2019 -- will have an annual production capacity of 350,000 square meters of engineered stone. The move will raise the company’s total annual production capacity to 1.05 million square meters of such stone.
The company said it will expedite its efforts to boost its presence in North America, which accounts for more than 70 percent of the 3 trillion-won (US$2.60 billion) global engineered stone market.
By Song Seung-hyun and newswires (firstname.lastname@example.org)