The new joint venture will combine the expertise of LG Electronics and Lufthansa Technik to create new markets for on-board aircraft applications like interior linings, welcome board screens
LG Electronics Inc, a global leader and technology innovator in consumer electronics, home appliances and mobile communications and Lufthansa Technik AG one of the leaders in technical aircraft services in the world, joined hands for developing aircraft displays and systems.
LG Electronics and Lufthansa Technik will together develop, produce and market the innovative OLED displays of LG Electronics for cabins in commercial airplane, the companies said in a joint statement.
LG Electronics is one of the leading makers of flat panel TVs, air conditioners, mobile devices, refrigerators and washing machines in the world.
New venture to combine expertise of both firms
The new joint venture will unite the advanced, flexible and lightweight OLED display technology of LG Electronics with the aviation business capabilities of Lufthansa Technik for creating new markets for on-board aircraft applications like interior linings, welcome board screens, etc.
Commenting on the new joint venture, Soon Kwon, President of LG Business-to-Business Company, said, “We are very excited to be joining hands with Lufthansa Technik to expand the reach of LG’s innovative consumer electronic technologies to commercial aircrafts.”
Speaking on the development, Dr Johannes Bussmann, Chairman of Executive Board at Lufthansa Technik, said, “Both partners contribute a globally recognised reputation in their respective business areas to create a new flying experience for the passengers.”
New venture to be operational next
The new joint venture will be located in the major port city of Hamburg in Germany. The operations of the new venture will commence in the first half of the next year, the statement said.
The agreement between the two companies was signed earlier this week in Hamburg. The closing of agreement is subject to approval by regulatory bodies.
