Honeywell (News - Alert), a global manufacturer in automation and control solution, has entered into a partnership with LG, a technology innovator in consumer electronics. The partnership covers intelligent building systems, in which Honeywell possesses technology.

 

A ceremony held at the Grand Hilton Hotel in Seoul, Korea marked the partnership, where executives attending from both companies included Young-Hwan Kim, solution business team leader at LG Electronics (News - Alert) Digital Appliance Company, and Ki-Soon Choi, ECC (Environmental and Combustion Controls) division leader from Honeywell.

 

With this agreement, both companies will cooperate with each other in sales, marketing, training, product development, and technology services for building solution systems. LG is looking to establish an exclusive solution for spec-in sales activities, expand its capability in relevant technologies and improve its engineers’ skills through training, through this partnership with Honeywell.

 

Starting its home solution business in 2004, LG outfits about 60,000 residences by end of this year in Korea and emerging markets, including the Middle East and China. Expanding from $90 billion in 2007 to $94 billion in 2008, the building control system industry has registered exponential growth all over the world. Energy conservation and environmental awareness have increased demand for integrated control solution, including mutual assistance control, power supervision, light control and security.

 

LG believes that its partnership with Honeywell will help LG better respond to the needs of its customers in this area. Honeywell will provide comprehensive solutions for all diversified control demands in the future Home and Building area through cross collaboration with LG Electronics.

 

“This partnership with Honeywell will serve to strengthen our competitiveness, expanding our presence in the intelligent building system industry as well as the home network sector,” Kim said. "We will concentrate on attracting new customers through our accumulated expertise in home networks, coupled with our competitive brand recognition.”