LG and Hitachi name executives to leadjoint venture water treatment business

Press release

Published February 23rd, 2012 - 06:52 GMT

Al Bawaba

LG Electronics (LG) and Hitachi Plant Technologies, Ltd. named two senior executives to run its joint venture water treatment company, the company started operation on February 1, 2012. The two companies named Young-ha Lee Chief Executive Officer and Hidenao Kawai Chief Operating Officer for the new joint venture. The new company, LG-Hitachi Water Solutions Co., Ltd., will be based in Seoul and is expected to play a significant role in the rapidly growing water treatment industry.

Mr. Lee, a 33-year veteran of LG Electronics, is currently an LG Electronics president and the company's Business Support Officer. Mr. Lee served in various positions during his notable career, most recently as president and CEO of LG's Home Appliance Company. He is quite familiar with Japanese corporate culture, having been stationed in Tokyo from 1986 to 1990.

"Human use of water has increased more than 30-fold over the past three centuries but less than 1 percent of the world's fresh water is readily accessible for human use," said Young-ha Lee, CEO of LG-Hitachi Water Solutions Co., Ltd. "LG and the Hitachi – two of the most diversified companies in the world -- will combine their resources to developing innovative solutions for the world's water problems."

By combining LG's strength in manufacturing and technology with Hitachi Plant Technologies' advanced R&D and expertise in water-related industries, LG-Hitachi Water Solutions is well positioned for a strong entrance into the Korean and global market. The company will initially focus on manufacturing and sales of water treatment equipment, EPC for water treatment systems and O&M² for water treatment facilities, centered mainly on wastewater treatment facilities and drinking water and sewage treatment facilities and research and development of water treatment technology.

Background Information

LG Electronics

LG TV, Appliances, Air Conditioners, Mobile Phones & Computer Monitors

Life’s about more than having the latest appliances and electronics. It’s about the experiences technology creates. From TVs and home appliances to mobile phones and IT products, LG Electronics Levant delivers consumer electronics that let you embrace life and prepare you for its greatest moments.

LG Electronics designs consumer products that are intuitive, responsive and energy efficient, so you can spend wisely, be more productive and reduce your impact on the world around you. We’re committed to providing LG electronics throughout Jordan, Syria, Lebanon and Iraq that work best for the way you live and to keep you updated with the latest advances. After all, life’s better when you’re prepared.

Company Profile

Hitachi

Hitachi, headquartered in Tokyo, Japan, is a leading global electronics company with approximately 360,000 employees worldwide. Fiscal 2010 (ended March 31, 2011) consolidated revenues totaled 9,315 billion yen ($112.2 billion).

Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them.