Company focuses on becoming a total HVAC solution specialist
LG Electronics has announced that it has made large investments in R&D, and has initiated construction of a new chiller manufacturing facility set to open in 2017.
LG said that the move was aimed at becoming the leader in the HVAC solutions market in the future.
At its general stockholder meeting earlier this year, the company had reportedly announced plans to shift its focus towards business-to-business (B2B) sales, claiming that enhancing its B2B infrastructure and finding further solutions for the HVAC sector, would pave the way for it to become a total HVAC solutions specialist.
The company highlighted that its commercial air conditioning business was already an integral part of the company’s B2B segment, as it had invested in producing a wide range of HVAC products for several decades now. With a rise in sales of large air conditioning systems, said LG, the expansion of the production base was necessary.