Hanwha L & C Canada, Inc. announces $70 million investmentin London, Ontario

LONDON, Ontario - On January 17, 2008, Hanwha L & C Canada Inc. announced plans to locate a manufacturing facility in London, Ontario to produce HanStone Fine Quartz Surfaces. Their announcement represents an initial capital investment of $70 million, with employment expected to exceed 150 associates when fully operational early next year.

This 200,000 sq. ft. state-of-the-art facility will be located in Innovation Park and will elevate Hanwha's ongoing commitment to environmentally friendly production.

Hanwha Group is a global Fortune 500 company and is the 5th largest industrial conglomerate based in Seoul Korea. This multi-national corporation operates in plastics, industrial materials, automotive parts, and the chemical industry.

''Hanwha's investment demonstrates strong confidence and commitment to our country and our community,'' says Mayor Anne Marie DeCicco-Best. ''We warmly welcome the company and know they will be successful by establishing in London.''



Peter White, President and CEO of the London Economic Development Corporation concurred with Mayor DeCicco-Best's thoughts, adding "it has been an absolute pleasure, and honour, for the LEDC team to work closely with such a world class company. This investment represents the largest announcement in Ontario since the Toyota investment, based on size and dollars, and is a testament to the strength of London's economy."

The first phase of Hanwha L & C Canada Inc.'s facility manufactures HanStone Fine Quartz surfaces used for kitchen countertops, vanities and other surfaces for residential and commercial applications. HanStones are currently supplied to well known retail outlets such as Rona and IKEA.

Daniel Yu, the new President and CEO for Hanwha L & C Canada remarked "Our new facility being built in London, Ontario will be the most advanced manufacturing plant in Fine Quartz Surface business. We will produce top quality HanStone products to our customers from the new Canadian plant. We are confident our HanStone Fine Quartz Surface business will grow and be successful in North America with the continued strong support and cooperation from the City of London. We greatly appreciate the community's warm welcome to our company."

Hanwha L & C Canada is already planning future expansions. Phase II, in approximately three years, will see the addition of a 180,000 square foot facility and the creation of another 100 jobs. This commitment will be an additional investment of $40 million.