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LG Electronics announced a strategic business partnership with Honeywell for intelligent building systems.
The partnership agreement embraces cooperation across sales, marketing, training, product development, and technology services for building solution systems. Through the collaboration, LG expects to establish an exclusive solution for spec-in sales activities, expand its capability in relevant technologies, and improve its engineers’ skills through training.
LG has began its home solution business in 2004, outfitting approximately 60,000 residences by end of this year in Korea and emerging markets including the Middle East and China. Overall, LG says the building control system industry has grown substantially worldwide, expanding from US$90 billion in 2007 to $94 billion in 2008. LG says that energy conservation and environmental awareness have increased demand for integrated control solution including mutual assistance control, power supervision, light control and security. LG says the partnership with Honeywell will help it better respond to the needs of its customers in the area
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