JEDDAH, 3 February 2008 — The joint venture air conditioning factory of LG and its distributor HG Ibrahim Shaker Co. Ltd. will go into production next month, top management executives of the two companies said here yesterday.
“The factory, located in Riyadh’s new industrial city, has been established at a cost of around SR130 million and will manufacture 250,000 to 300,000 air conditioning units annually,” Hasan Shaker, CEO of HG Ibrahim Shaker Co., told Arab News on the sidelines of the 9th annual marketing conference of the two companies at Alhamra Sofitel Hotel. The three-day conference, themed “Absolute leadership through sustained growth,” ended yesterday.
Three LG-Shaker academies, one each in Riyadh, Jeddah and Dammam, have been established for providing training in air conditioning technology, Shaker said, adding that the factory will have 180 trained workers.
Y.J. Khang, LG’s Seoul-based vice president, air conditioning overseas sales, said that global warming was the most compelling environmental challenge facing the world today, and as part of its contribution to cope with that threat the Korean electronics giant was making efforts to create a better world through its eco-friendly products. “This starts from our business model and our leadership. For, we believe that without the active participation of companies and governments there will never be a solution to global warming,” Khang said.
LG has invested heavily in developing technologies that have a huge impact on human health and the environment not only in the Middle East, but also throughout the world.
