LG PHILIPS DISPLAYS Holding BV, Eindhoven, the Netherlands, the European holding company for leading cathode ray tube (CRT) producer LG Philips Displays, has filed for bankruptcy protection. This is in tandem with Dutch subsidiary LG Philips Displays Netherlands BV and its German subsidiary based in Aachen. The company cited worsening conditions in the CRT market and unsustainable debt as the reasons for the application. It stated that it would also be unable to provide further financial support to certain loss making subsidiaries. As a result, its operations in France (Dreux), the Czech Republic (Hranice), Slovakia (Namestovo), Mexico (Gomez Palacio) and the USA are reviewing their financial position.
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