SEOUL, May 14 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it has acquired FlaktGroup Holding GmbH, a Germany-based ventilation company, for 1.5 billion euros (US$1.68 billion), marking its largest takeover in about eight years. The company has signed an agreement with European investment firm Triton to take over a 100 percent stake in the [...]
SEOUL, Jan. 16 (Korea Bizwire) — LG Electronics is scaling back its nearly decade-long energy storage system (ESS) business to concentrate on its rapidly growing heating, ventilation, and air conditioning (HVAC) segment, bolstered by the global surge in artificial intelligence (AI). Industry sources on January 16 revealed that LG’s Eco Solution (ES) Business Division recently rebranded its [...]
SEOUL, Nov. 6 (Korea Bizwire) — LG Electronics Co., South Korea’s No. 2 home appliance maker, said Monday it has partnered with universities in the U.S. state of Alaska to develop high-performance heating, ventilation and air conditioning (HVAC) products that operate efficiently in extreme cold conditions. The company said it has formed a consortium with [...]