|
LG Electronics and Hitachi to Form Joint Venture in Water Business
Tokyo and Seoul, Jul 11, 2011 - (ACN Newswire) - LG Electronics Inc. (066570: KS "LGE"), and Hitachi Plant Technologies Ltd. ("Hitachi Plant Technologies") have agreed to establish a joint venture in the water business.
LGE, Hitachi Ltd. (TSE: 6501/NYSE: HIT "Hitachi"), 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 2011, 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, EPC(1) for water treatment systems and O&M(2) for water treatment facilities, 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.
The decision to enter into the joint venture reflects LGE's desire to make use of the Hitachi Group's extensive experience and know-how in order to enter the water business, which is expected to expand around the world. The Hitachi Group's seeks to further expand in the water-business and will benefit from LGE's marketing strength and sales channels in Korea and LGE's high-level standardization and mass manufacturing technology in water treatment equipment and systems.
LGE's water business, which started with domestic water purifiers, has recently extended into development of various types of membranes. The company intends to leverage these core technologies to achieve further expansion and development of a total water business.
The Hitachi Group has been involved in the water business for almost one century, and has excellent sales results both at home and abroad. The Group established a Water Environment Solutions Division on June 1, 2010, which will operate under the direct supervision of the president of Hitachi, to develop and propose overall business strategies for growth in this field. The Hitachi Group positions its water business as an area of growth with potential for social innovation business. The Group's objective is to bring to emerging nations in Asia, the Middle East and other areas comprehensive solutions based on sophisticated technology, experience and expertise in advanced water circulation systems, particularly membrane and biological treatment systems that employ information technology. The Hitachi Group is striving to expand its overall water business operations to reach sales of 200 billion yen in the fiscal year 2015.
Outline of joint venture company
Company Name: LG-Hitachi Water Solutions Co., Ltd.
Address: Seoul, Korea
Business areas: Manufacturing and sales of water treatment machinery;
EPC(1) for water treatment systems;
O&M(2) for water treatment facilities;
research and development of water treatment technology.
Representative: Not decided (LGE will name CEO and Hitachi Plant Technologies
will name COO.)
Establishment: October, 2011 (scheduled)
Capital: 18 billion won (approximately 1.4 billion yen)(3)
Equity (%): LGE : 51%; Hitachi Plant Technologies : 49%.
(1) EPC : Engineering, Procurement and Construction
(2) O&M : Operation and Maintenance
(3) Calculated at the rate 1 won = 0.076 yen
About LG Electronics Inc.
LG Electronics, Inc. is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 93,000 people working in over 120 operations around the world. With 2010 global sales of KRW 55.8 trillion (USD 48.2 billion), LGE comprises four business units - Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions. LGE is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.
About Hitachi Plant Technologies, Ltd.
Hitachi Plant Technologies, Ltd. - Supporting Infrastructure with Environmental and Energy-Saving Technologies - is a member of the Hitachi Group. Harnessing its engineering capabilities, monozukuri (manufacturing) skills and project expertise, Hitachi Plant Technologies offers total solutions for social and industrial infrastructures. The core businesses of our group mainly comprise Social Infrastructure Systems, Industrial Systems, Energy Systems and Air Conditioning Systems. For more information on Hitachi Plant Technologies, please visit the company's website at www.hitachi-pt.com.
Contact:Hitachi, Ltd.
Corporate Communications
+81-3-3258-1111
Adeline Siaw
Hitachi Asia Ltd.
+65-6231-2277
ccd@has.hitachi.com.sg
Source: Hitachi, Ltd.
Sectors: Water, Environment, ESG
Copyright ©2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network. |
Latest Release
NEC Strengthens Multi-Vendor Optical Network Solutions with New TIP-Certified Phoenix Hardware Lineup
Feb 27, 2026 18:50 JST
|
NEC Demonstrates Agentic AI-Driven Autonomous Network Operations in Collaboration with AWS
Feb 27, 2026 17:31 JST
| 
Mitsubishi Heavy Industries Compressor Acquires Swiss Rotating Equipment Maintenance Company AST Turbo AG
Feb 27, 2026 17:23 JST
|
NEC Strengthens Its Edge Portfolio for the 6G Era, Enabling Efficient Edge Deployment and Integration with Cloud Services
Feb 27, 2026 12:24 JST
| 
Fujitsu POS solution enhances customer experience at Hankyu Hanshin Department Stores
Feb 27, 2026 12:03 JST
| 
Mitomo Semicon Engineering to Change Company Name
Feb 26, 2026 22:00 JST
|
The University of Tokyo, NTT, and NEC demonstrate real-time augmented reality assistance made possible by integrating three newly proposed technologies on a 6G/IOWN platform to realize the widespread use of AI agents supporting safety and security
Feb 26, 2026 19:01 JST
|
NEC and Nokia to Expand Eletronet's Optical Fiber Network in Brazil by 50%
Feb 26, 2026 18:51 JST
| 
Everest Medicines Shareholders Pass Resolutions Including Commercialization Service Agreement at EGM
Feb 25, 2026 21:59 JST
| 
Toyota Launches New bZ4X Touring BEV Focused on Driving Performance and Spaciousness in Japan
Feb 25, 2026 21:58 JST
| 
DOCOMO and Keio University Demonstrate World's First Stable, High-Fidelity Robot Teleoperation via Commercial 5G Using Low-Latency Slicing
Feb 25, 2026 21:01 JST
|
DOCOMO Successfully Demonstrates AI Application Operation Using Virtualized Radio Access Network (vRAN) Infrastructure
Feb 25, 2026 20:50 JST
|
DOCOMO Begins Commercial Deployment of Agentic AI System for Network Maintenance Using One of the World's Largest Datasets
Feb 25, 2026 20:40 JST
|
NEC Implements AI Code Review Service "Metabob," Reducing Technical Verification Time by Up to 66%
Feb 25, 2026 18:00 JST
|
Beisia Automates Supermarket Refrigerator Temperature Monitoring and Recording with Fujitsu's IoT Visualization Solution
Feb 25, 2026 12:00 JST
| 
Hong Kong Tech Delegation Heading for Market Expansion at Mobile World Congress 2026
Feb 25, 2026 07:00 JST
|
TANAKA to Provide Medals for the Tokyo Marathon 2026 That Represent All the Participants in the Event with Woven Lines
Feb 24, 2026 22:00 JST
|
Mitsubishi Shipbuilding Ships First Units of Systems for Marine Ammonia-Fueled Engines
Feb 24, 2026 20:07 JST
|
MHI Unveils "DIAVAULT," a Secure, High Performance Edge Data Center Platform
Feb 24, 2026 19:55 JST
| 
Galaxy Payroll Group Renews Five-Year Strategic Cooperation Agreement with NIKE China Holding HK Limited (Macau Branch)
Feb 24, 2026 13:35 JST
|
More Latest Release >>
|