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Viking Range Corporation of Greenwood, MS, U.S. and LG Electronics, Inc. of Seoul, Korea, have entered into a strategic alliance. Areas for collaboration include product cross-sourcing and joint procurement opportunities, shared R&D and service resources, as well as expanded distribution.
Under the agreement announced Thursday during the International Builders Show, LG plans to reach more U.S. consumers, as Viking U.S. distributors will have the opportunity to carry premium LG appliances. LG believes this specialized distribution channel will complement its existing U.S. network of national and regional appliance dealers. Viking plans to increase its international distribution, particularly in the rapidly expanding Asia/Pacific markets through its alliance with LG.
Fred Carl, Jr., CEO of Viking Range Corporation, said, "Teaming with LG will give our loyal distributors new growth opportunities while allowing Viking to work with one of the strongest global brands and technology leaders in home appliances. We look forward to this mutually beneficial relationship, including future opportunities for product development collaboration."
James Shad, president, LG Electronics USA, stated, "This alliance will leverage the respective brand, technology, marketing and distribution strengths of LG and Viking, enabling us both to satisfy a broader range of consumer needs," said "Viking has built an exceptional brand, and LG is proud to be associated with this American icon's heritage of quality and customer service."
It is anticipated that Viking distributors will begin offering LG appliances beginning in the second quarter of 2010.
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