LG, Hitachi to Form Joint Venture in Korean Water Sector

LG Electronics and Hitachi Plant Technologies have agreed to form a joint venture to expand into Korea’s water sector.

The joint venture company, LG-Hitachi Water Solutions, will be set up in October 2011, with LG Electronics providing 51% of the capital and Hitachi Plant Technologies providing the remaining 49%.

LG-Hitachi will initially focus on manufacturing and sales of water treatment equipment and will provide engineering, procurement and construction services for water treatment systems.

The new company will also work on the operation and maintenance of water treatment facilities and the development of water treatment technology.