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 | | LG & SIEMENS SIGN GLOBAL PARTNERSHIP TO DEVELOP COMMERCIAL AIR CONDITIONING & BMS SYSTEM | | | LG Electronics | | 04/07/2008 | | | LG and Siemens are entering a global partnership to develop commercial air control solutions and systems. The world wide partnership is aimed at increasing both companies’ sales of commercial air conditioning products and building management systems - and to increase their respective market shares.
LG and Siemens have exchanged a Memorandum of Understanding ‘for cooperative development of commercial air control solutions, hence the ensuing businesses.’ The agreement takes immediate effect.
For LG, Graham Hendra, UK general manager of air conditioning, commented, “This will enable LG to further develop the existing commercial air conditioning products and systems alongside air control solutions. It will raise our raise the product and service competitiveness in what we offer to the building developer, owner, consultant, architect and main contractor.”
The global market is rapidly changing, almost on a daily basis and has had two major players- both in commercial air conditioners and control solutions. There is an ever-increasing need to take into account the energy efficiency, environmental concerns and legislative direction of Europe and North America and this has led to the development of integrated technology of heat pump management and energy-efficient control solutions.
The global market for commercial air conditioning systems is expected to increase from $32.4B US previous year to $36.3B US this year and the relative control solutions market is expected to expand from $17.0B US to $19.0b US.
LG foresees its partnership with Siemens resulting in a diverse client base from both the commercial air conditioning and total solutions markets.
President of LG Electronics DA Company Air Conditioner Mr. Hwan Yong Nho says, “The agreement has given LG the right ground to further grow and expand in the global heat pump market. We expect to gain a diverse client base for both the commercial air conditioning system and the total air control solutions market.” | |
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