South Korea's LG Electronics said Wednesday that it has opened a new consumer electronics plant in Russia, completing its drive to set up a production base in the region. LG said that the $150-million plant in the suburbs of Moscow has an annual production capacity of 500,000 flat panel TVs, 700,000 washing machines, 200,000 refrigerators, and 260,000 home theater systems. Well, I coudl care less about the washing machines, but increased flat panel capacity is always a good thing for consumer prices - and labor is very inexpensive in Russia (even if the government payoffs aren't).
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