Under the MOU, Siemens will become a strategic supplier for LG, providing its integrated building management solution for Heating, Ventilating and Air Conditioning (HVAC) products. This will allow LG to leverage Siemens’ field engineering know-how and strategies in building management and control solution, an area where Siemens possesses top-notch technology.  The MOU’s signing was marked with a ceremony held at LG’s digital appliance factory on June 20th, 2008 in Changwon, Korea, with the presence of such LGE’s and Siemens’ Korean executives as Hwan-Yong Nho, Executive Vice President of the Air Conditioning Division, and Sascha Brozek, Head of Building Technologies and Vice President of Siemens Korea.

According to the company’s press release, LG believes that cooperating with Siemens will reinforce its global leadership in the commercial air conditioning sector, helping it offer more advanced products and services that set it apart from competitors. LGE has also recently announced a strategic partnership in building solution systems with Honeywell.