German water treatment company reinforces bond with distribution partner LG in Korea
GREIFENBERG, Germany, Feb. 14, 2011 -- LG Electronics intends to invest 400 million dollars to become a top 10 global water treatment company in Asia and will continue its relationship with its German partner inge watertechnologies AG...
|German-made ultrafiltration modules help provide clean water in Korea.|
GREIFENBERG, Germany, Feb. 14, 2011 -- As the economic strength of Asian growth regions increases, so too does their demand for efficient water treatment systems. The German ultrafiltration specialists inge watertechnologies AG entered this market several years ago by signing a distribution partnership with the South Korean global corporation LG Chem. LG has now brought together its water market activities in its subsidiary LG Electronics and announced its intention to invest 400 million dollars with the goal of becoming a top 10 global water treatment company. In terms of its ultrafiltration technology requirements, it will be sticking with its German partner inge watertechnologies AG, and the two companies recently signed a new framework agreement.
LG Electronics is a subsidiary of the South Korean LG Group and the world's third largest manufacturer of household appliances. The water treatment division that has now been grouped under LG Electronics will initially be focusing on industrial water treatment, followed by the wastewater business sector and drinking water purification. LG has announced that it will be investing some 400 million US dollars over the next decade with the goal of becoming a top 10 global water treatment company.
For its ultrafiltration technology needs, LG will be continuing to rely on its long-established partner inge watertechnologies AG. LG is not only a distribution partner of the global technology leader from Germany, but also a good customer: The global corporation has equipped many of its own display manufacturing plants with inge's German-made ultrafiltration technology, an indication of just how important it is for high-tech industrial concerns to have constant access to their own clean water rather than just relying on local water supplies. inge watertechnologies AG has already demonstrated the safety, efficiency and reliability of its Multibore membranes in several hundred industrial-scale plants all over the world, including plants run by LG.
Bruno Steis, CEO of inge watertechnologies AG, comments: "I am delighted with the excellent relationship we have with our South Korean partner. LG Electronics' strong presence in Korea and the Asian markets -- coupled with the quality of our products -- opens up enormous potential for both companies. South Korea is one of the most advanced economies in Asia, and as the country's economic growth continues we expect to see major investment in the expansion and modernization of industrial and drinking water treatment plants. We are pleased that we will be playing a part in that thanks to our strategic partnership with LG."
About inge watertechnologies AG
The company inge watertechnologies AG, based in the town of Greifenberg near Munich in Bavaria, Germany, employs more than 80 staff and is the world's leading provider of ultrafiltration technology, a membrane process used to treat drinking water, process water, wastewater and sea water.
With a global reach enhanced by its network of partners, the company has completed numerous reference products around the globe featuring its cutting-edge technology. Its range of products include highly-efficient ultrafiltration modules and cost-effective, space-saving rack designs as the core components of water treatment plants, rounded off by the superb technical support it provides to its customers.
All the company's products are based on the in-house development of its patented Multibore® membrane technology, providing the top-quality standards for which German-made goods are famous. The extremely small-pore filters of the Multibore® membrane reliably intercept not only particles, but also microorganisms such as bacteria and viruses, thereby providing a dependable source of clean water. Deployment of the inge technology also offers significant advantages over conventional water treatment methods, such as rapid and easy module installation and stable, highly resilient membranes. This makes planning a water treatment facility much simpler, enabling customers to achieve low-cost installation and operation. And all this comes with a guarantee of long-lasting reliability.
About LG Electronics Inc.
LG Electronics Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units -- Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world's leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. For more information, please visit www.lg.com.