MUNICH, Germany — Sharp has formally opened a new LCD TV manufacturing site in Poland. The move brings Sharp closer to the largest market for flat screen TVs: Europe.

More than 40 percent of all flat-panel TV sets presently are sold into Europe; during the last year, demand for LCD TVs here rose by 50 percent to 27 million units.

This is reason for Sharp to launch a TV set production in Europe. Tuesday (August 28), Sharp President Mikio Katayama and representatives of the Polish government opened the production line in Torun, Poland.

The company invested €44 million (about $60 million) in the construction of the factory. Sharp intends to manufacture LCD modules and complete LCD TVs at the new plant.

"The launch of LCD TV production here in Poland is an indication by Sharp of how important Europe is for our company," said Toshiyuki Tajima, CEO of Sharp Electronics Europe. "It was a conscious decision to site the investment in the new plant in Eastern Europe, one of the most dynamically growing LCD TV markets on the continent." He added that the company's presence in the fast growing Eastern European markets such as Poland, the Czech Republic, Hungary and Slovakia offers time, cost and delivery benefits for the company.

Tajima characterized integrated production as the core element of Sharp's global supply strategy, with integrated meaning that the production of LCD modules and the final LCD TV set are carried out in one plant.