South Korea-based electronics maker LG Electronics Inc. is forming a joint venture with Conergy AG to produce solar cells. In concert with the announcement, LG is acquiring a 75% stake in Conergy's solar cell plant in Frankfurt an der Oder, Germany.
The partnership with Conergy, Germany's second-largest solar company, is expected to officially begin by the end of the year, following a due diligence period, LG says.
SOURCE: LG
