LG Philips Displays is to close production plants in Newport, Wales and Southport, UK. Additionally, it is to cut production in the Czech Republic. The closures have been blamed on a sharp decline in the market for colour display tubes due to increasing competition from other display technologies also supplying products for use in computer monitors, and severe downward pressure on prices for CDT and colour picture tubes. At Newport, 870 jobs will go when production ceases in mid-August this year while 71 jobs will go at Southport at the end of 2003. In the Czech Republic, the company plans to halt production on its three lines for two weeks; the first week classed as a holiday, whilst the second week 1300 employees will stay at home and receive 60% of their usual wage. It is anticipated this will be on a temporary basis.
