business

LG Electronics, Hitachi to form joint venture in water business

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LG Electronics Inc and Hitachi Plant Technologies Ltd said Monday they have agreed to establish a joint venture in the water business. LGE, Hitachi Ltd and Hitachi Plant Technologies will combine LGE's strength in marketing, planning and manufacturing technology with the Hitachi Group's technological and engineering strengths in water treatment systems and information control systems, to expand in the water business.

The joint venture company, LG-Hitachi Water Solutions Co Ltd, is scheduled to be established in October with LGE providing 51% of the capital and Hitachi Plant Technologies 49%. The new company will initially focus on manufacturing and sales of water treatment equipment, centered mainly on wastewater treatment facilities and drinking water and sewage treatment facilities in Korea, and research and development of water treatment technology. The joint venture will also plan for future expansion in the water business in other countries.

Freshwater resources around the world vary greatly from region to region. Water resources are limited, and their supply is expected to come under pressure on an international scale due to population growth, economic growth, global warming, urbanization, and water environment pollution. As a result, concern about future water shortages is mounting.

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Love the headline. "Water business"? I thought they would be opening bars in Kabukicho till I read the article.

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LGE providing 51% of the capital and Hitachi Plant Technologies 49%.

Sorry to hear that this is not a Hitachi 51% of the capital and LGE 49%. Sounds trouble already to me.

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Korea's LG and Japan's Hitachi,teamwork on water business. Great News,way to go.

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