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LG unveils expansion plans

Says it is poised to enter energy solutions market in MEA and reach $10 billion in global sales by 2013

| | Apr 20, 2011 | 9:57 am
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Says it is poised to enter energy solutions market in MEA and reach $10 billion in global sales by 2013

LG has announced its plans to become a major player in the global energy solutions market by introducing the third version of the existing tropical Multi V system and the VRF Air Handling Unit (AHU) within the Middle East and Africa (MEA) markets. LG claims that the VRF AHU integrated control system lets users manage air conditioning for an entire building and provides heating, cooling and outdoor fresh air conditioning, while saving energy. The company adds that the AHUs can be used for 100% fresh air application or re-circulating air application.

Based around these solutions, LG said that it plans to aggressively expand its market share in the MEA’s commercial air conditioning sector this year, and evolve into a total solution provider for the market. The company also revealed that it is constructing an AC Academy at Jebel Ali, which has been LEED Silver certified, where LG is customising products to the needs of the MEA consumers. The company also aims to enhance the reliability of its products to work in all weather conditions.

LG also announced that it intends moving beyond its traditional role in air conditioning and making a foray into the energy business, with solutions, including LED lighting and solar power. With this objective in view, it said that it plans to invest $500 million and increase its workforce and R&D, with a further aim of reaching $10 billion in global sales by 2013.

“We’ve developed a range of products and solutions that meet the ever more pressing demands of consumers, while also containing costs and reducing energy consumption,” said HS Paik, President of LG Electronics Gulf FZE.

“We’re confident that we have every energy solution covered, whatever the business. We already have references with the Multi V, including Al Gurm in Abu Dhabi and the American Academy School in Abu Dhabi. This proves the awareness and acceptance level of this technology, which is popular across the MEA.”

Providing technical insight, Senior Manager, Commercial Air Conditioners, Dharmesh Sawant, added: “With the increased emphasis on local green building codes, like Estidama in Abu Dhabi and Q-SAS in Qatar, tropical Multi V III and VRF AHU solutions will help the local authorities to meet their objective. LG supports the stakeholders across the value chain. We have a dedicated team to support the consultants and developers in the concept, design stage, as well as a dedicated team for contractors in the post-tender stage and a dedicated team for facilities management companies.”

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