LG Electronics and Hitachi Plant Technologies Have Established a Joint Venture

LG Electronics and Hitachi Plant Technologies have established a joint venture (JV) to form a new company, LG-Hitachi Water Solutions Co, as per a previous agreement signed in July 2011. LG will hold a 51% share in the new water treatment company while Hitachi Plant Technologies will hold a 49% share. The new company will focus on the Korean market for the manufacturing and sale of water treatment equipment, as well as research and development of water treatment technology. LG-Hitachi Water Solutions' operations in Korea also include engineering, procurement and construction for water treatment systems, and operation and maintenance for water treatment facilities, centred mainly on wastewater treatment facilities and drinking water and sewage treatment facilities. The JV will also plan for future expansion in the water business in other countries. The collaboration enables LG to make use of the Hitachi and Hitachi Plant Technologies' advanced technology, engineering capabilities and know-how in order to enter the water business. The Hitachi Group said it intends to further expand in the water sector and will benefit from LG's marketing strength and sales channels in Korea and its high-level standardisation and mass manufacturing technology in water treatment equipment and systems. Source: water-technology.net