Company now the largest supplier of ACs in the country; manufacturing investment reaches US$18 million
Dubai, April 7, 2004: Pakistan’s Minister for Finance and Economic Affairs, Shaukat Aziz, recently inaugurated a new LG Electronics air conditioner plant in Winder, Balochistan.
The 365,000 square feet facility will produce 200,000 air conditioners a year and its opening brings LG’s investment in manufacturing operations in Pakistan to around US$18 million. In total, LG plants in the country sustain 525 jobs.
Shaukat Aziz said: “We believe that such initiatives make an important contribution to the economic strength of the country. We welcome the additional investment made by LG Electronics, which is further proof of our investor friendly policies.”
H.E Jeon Bou Guan, Ambassador of the Republic of South Korea to Pakistan; and Mr K. H. Kim, President of LG’s Middle East and Africa Operations, also attended the air conditioner plant inauguration ceremony.
Mr Kim said: “With this additional facility, LG Electronics is now the largest supplier of air conditioners in Pakistan. Globally, LG Electronics air conditioners have occupied the number one spot for sales for four straight years since 2001.”
He said: “We boast a global market share of 18.6 per cent, which means that one out of every five air conditioners bought in the world in 2003 was a LG.”
-Ends-
About LG Electronics, Inc.
LG Electronics, Inc. (Korea Stock Exchange: 6657.KS) was established in 1958 as the pioneer in the Korean consumer electronics market. The company is a major global force in electronics and information and communications products with more than 64,000 employees working in 76 overseas subsidiaries and marketing units around the world. With annual total revenues of more than US $16.9 billion (non-consolidated), LG Electronics comprises three main business companies: Digital Display & Media, Digital Appliance, Telecommunication Equipment & Handset.
LG Electronics’ goal is to enable the intelligent networking of digital products that will make consumers’ lives better than ever. For more information, please visit www.lge.com
For more information, contact:
Hamad M. Malik
Senior Regional Manager
Marketing & Corporate Communications
LGE Middle East & Africa Operations
Tel: +9714-8812199
Fax: +9714-8813996
Email: hamad@lge.com
Nick Wheywell/Rami Halawani
Polaris Public Relations
Dubai,
UAE
Tel: +9714-3060518
Fax: +9714-3341326
Email: n.wheywell@polaris-me.com
Email: r.halawani@polairs-me.com
© Press Release 2004
