Korean digital manufacturer, LG Electronics, will launch into the Gulf's rapidly developing central air-conditioning sector and will be the first producer to bring advanced tele-control, where systems can be operated via a mobile phone, to the industry segment.
LG's central a/c sector launch, including a seminar on The Future Of Digital Central Air-Conditioning will be staged by LG Gulf's recently formed air conditioning division in the Barajeel Ballroom of the Fairmont Hotel Dubai on Sunday, May 19, 2002.
"We have established this dedicated division to further penetrate the Middle East's rapidly growing a/c industry, of which 40 percent is dominated by central a/c sales," said P.C. Choi, Managing Director, LG Electronics Gulf FZE.
"The market for central plant air conditioning in the Middle East and India is currently valued by the UK's Building Standards Research and Information Association at $732 million but is rising at over eight percent per annum and should reach over one billion dollars by 2004. It's a sizeable market and one in which we aim to take a substantial share,” Choi added.
Due to be launched this week are three LG central a/c products—a ceiling concealed duct system with a five ton capacity, a ducted split system with a capacity of up to 20 tons and a single roof-top package with a capacity of up to 25 tons. Three decorative products for the commercial a/c sector will also be launched with floor standing, cassette and convertible models.
LG Electronics is an international air conditioning supplier. Last year the Korean industrial group took 11.68 percent of the world's 42.36 million-unit a/c market with sales in 148 countries of over 4.9 million units, worth $1.5 billion.
LG Electronics aims to increase sales ratio of central air conditioners from 15 percent to 40 percent in A/C sales by 2002. Global sales are expected to reach $2.2 billion by 2003 and $3.5 billion in 2005. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
