A total of 460 jobs are to be created in Newport after an Irish firm bought the former LG Philips building from the Welsh Assembly Government. The Quinn Group, which makes radiators, has announced a £133M investment to set up its EU base, which will include R&D. LG Philips Display closed in 2003 with nearly 900 job losses. The new plant will be one of the world's biggest, making 4M compact radiators/year. The company, which has plants in Belgium, Lancashire and Ireland, is currently completing a plant in Cheshire employing 400 workers. Quinn Radiators has been in negotiations with the assembly government & the Welsh Development Agency for about a year. It said the site in Newport is vital to securing growth in the business. The LG site has had a troubled history, with the promise of 6000 jobs in 1996 failing to materialise.
