LG Electronics and Honeywell Announce Strategic Partnership in Building Solution System

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2008-06-30 11:08

Seoul--(뉴스와이어)--LG Electronics (LG), a global leader and technology innovator in consumer electronics today announced a strategic business partnership with Honeywell, a global manufacturer in automation & control solution. This agreement covers intelligent building systems, in which Honeywell possesses world’s leading technology.

The partnership agreement embraces comprehensive cooperation across sales, marketing, training, product development, and technology services for building solution systems. Through this collaboration with Honeywell, LG expects to establish an exclusive solution for spec-in sales activities, expand its capability in relevant technologies and improve its engineers’ skills through training.

LG marked this business partnership agreement with a ceremony held today at the Grand Hilton Hotel in Seoul, Korea. Executives attending from both companies included Young-Hwan Kim, Solution Business Team Leader at LG Electronics Digital Appliance Company and Ki-Soon Choi, ECC (Environmental and Combustion Controls) Division Leader from Honeywell.

“This partnership with Honeywell will serve to strengthen our competitiveness, expanding our presence in the intelligent building system industry as well as the home network sector,” Kim said. “We will concentrate on attracting new customers through our accumulated expertise in home networks, coupled with our competitive brand recognition.”

“We will deliver comprehensive solutions for all diversified control demands in the future Home and Building area through cross collaboration with LG Electronics”, Choi said.

LG has began its home solution business in 2004, outfitting approximately 60,000 residences by end of this year in Korea and emerging markets including the Middle East and China. Overall, the building control system industry has grown substantially worldwide, expanding from USD 90 billion in 2007 to 94 billion in 2008. Energy conservation and environmental awareness have increased demand for integrated control solution including mutual assistance control, power supervision, light control and security. This partnership with Honeywell will help LG better respond to the needs of its customers in this area.

Established in 1984, Honeywell has dedicated its business to automatic control systems, controls, sensors, reaching gross sales of $300 billion won in Korea last year.

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About LG Electronics, Inc.

LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD 44 billion, LG is comprised of four business units - Mobile Communications, Digital Appliance, Digital Display and Digital Media. LG is the world’s leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems. For more information, please visit www.lge.com.

About Honeywell International

Honeywell International is a $36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com.

LG Electronics 개요
LG Electronics Inc., (KSE: 06657.KS) is the leader in consumer electronics and mobile communications. The company has more than 72,000 employees working in 77 subsidiaries and marketing units around the world. LG Electronics is the world’s largest producer of CDMA handsets, residential air conditioners, optical storage devices and home theatre systems. With total revenue of more than USD 35 billion (consolidated USD 45 billion), LG Electronics is comprised of four business units: Mobile Communications, Digital Appliance, Digital Display and Digital Media. For more information, please visit www.lge.com.

웹사이트: http://www.lge.com