PRESS: LG may relocate production from Russia to central Asia

MOSCOW, Oct 21 (PRIME) -- South Korea's household equipment producer LG plans to relocate manufacturing from Russia to Uzbekistan or Kazakhstan, business daily Kommersant reported on Friday citing a market source and a source close to the government of Kazakhstan.

"A Kommersant source from the household appliances market said that the executives of South Korea's LG are discussing closing the Russian plant that produces refrigerators, washing machines and TV sets and relocating production to Uzbekistan, to the capacities of Artel," the newspaper reported.

An official of Artel Electronics declined to disclose information about the negotiations, saying that no partnership with LG has been signed.

A source close to the Kazakh government told PRIME that LG is discussing launching a new plant in the country after closing an older one, producing the same range of products as the Russian plant, several years ago.

End