Company Targeting USD10 Billion in Global Sales by 2014
Dubai, UAE: LG Electronics (LG) yesterday unveiled its new MULTI V III commercial air conditioner in the GCC at Atlantis, The Palm, targeting large-scale facilities such as commercial buildings, office complexes, schools, mosques, residential buildings and retailers. The third generation of the popular MULTI V series, the new air conditioner will be LG's flagship product in region, where demand for energy-saving technology is growing fast.
The launch of the MULTI V III, the company's most advanced commercial HVAC solution, is a central part of LG Air Conditioning Company's plan to secure USD 10 billion in global sales by 2014. With its advanced efficient cooling system, the MULTI V III is expected to gain significant market share throughout the GCC.
"As a company with a strong focus on producing energy-efficient products, we feel that the MULTI V III addresses all the major HVAC requirements of businesses in the Gulf," said Mr. H.S. Paik, President of LG Electronics Gulf FZE. "With this product, we are in a strong position to work with our dealers and business partners in the region to make LG the leading provider of smart and efficient HVAC solutions."
The MULTI V III boasts three key consumer benefits; higher energy efficiency, larger capacity and longer piping design. The unit's energy efficiency, boosted by LG's unique V-Scroll inverter, Cyclone Sub-cooling Circuit and new refrigerant distributor, delivers a COP (coefficient of performance) level[1] of 4.6 for heating and 4.3 for cooling - some of the highest in the industry. LG's new MULTI V III can help building owners reduce their operational costs and be friendlier to the environment while still providing reliable cooling in extremely hot and humid regions.
"LG is launching a more energy efficient product line which feeds into the Sustainability and Energy Awareness Programs globally, thus making it easier for Engineers, Contractors and Developers to achieve their Environmental Objective as well as reduce their Operating Costs. Without the Manufacturers actions, Energy Efficiency would remain a theory; hence manufacturers like LG who develop high performance products are commended and recognized for their leadership roles, making Energy and Sustainability targets a reality," said Mr. Mario Seneviratne, Managing Director, Green Technologies FZCO.
Another advanced feature of the MULTI V III is the increased piping length of 1,000m, which gives architects greater flexibility in locating the condensing unit. In addition, its 16HP capacity per unit (with a maximum of 48HP with four connected units) and smaller space requirement making it easier, more efficient and cheaper to install and maintain.
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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 93,000 people working in over 120 operations around the world. With 2010 global sales of 55.8 trillion Korean won (USD 48.2 billion), LG comprises four business units - Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions. LG is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines, and refrigerators. LG has signed a long-term agreement to become both a Global Partner and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.
About LG Electronics Air Conditioning and Energy Solution Company
The LG Electronics Air Conditioning and Energy Solution Company is a complete heating, ventilation and air conditioning (HVAC), and energy solution company providing Residential Air Conditioning (RAC), Commercial Air Conditioning (CAC), Solar Energy and Lighting around the world. Bringing technology leadership from the worldwide HVAC market and incorporating technologies from throughout LG, LG AE is increasingly expanding into specialized B2B solutions as an integrated energy solutions company. Through its innovative technology, heavy investments in R&D and effective marketing strategies, LG AE has broken its own sales records every year since 2000.
LG Electronics Inc.-MEA Regional Company
Zahabia Motiwala
Corporate Communications Manager
Corporate Marketing Team
Tel:+9714-350 9500,
Fax: +9714-334 4304
Zahabia.motiwala@lge.com
LG-One
Lona Ayoub
Tel 971 4 3344930,
fax 971 4 3344923
[1] COP is a measurement used to define heat pump efficiency. The higher the COP, the more efficient the device.
© Press Release 2011
