LG Electronics And Lufthansa Technik Establish Joint Venture For Aircraft Displays And Systems

New Aviation OLED Development Effort to Commence Early 2019

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Oct 25, 2018, 09:00 ET

SEOUL, South Korea and HAMBURG, Germany, Oct. 25, 2018 /PRNewswire/ -- LG Electronics (LG) and Lufthansa Technik AG will jointly develop, produce and market LG's innovative OLED displays for commercial airplane cabins, the companies announced today. The new venture will be based in Hamburg, Germany and will commence operation in the first half of 2019.

The new joint venture will combine LG's advanced, lightweight and flexible OLED display technology with Lufthansa Technik's aviation business capabilities to create new markets for on-board aircraft applications such as welcome board screens and interior linings.

"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," said Soon Kwon, president of the LG Business-to-Business Company.

"Both partners contribute a globally recognized reputation in their respective business areas to create a new flying experience for the passengers," added Dr. Johannes Bussmann, chairman of Lufthansa Technik's executive board.

Closing of the agreement, which was inked earlier this week in Hamburg, is subject to regulatory approval.

About Lufthansa Technik AG

With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the leading providers of technical aircraft services in the world. Certified internationally as maintenance, production and design organization, the company has a workforce of more than 25,000 employees. Lufthansa Technik's portfolio covers the entire range of services for commercial and VIP/special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products. For more news and information on Lufthansa Technik, please visit: www.lufthansa-technik.com

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 77,000 people working in 125 locations around the world. With 2017 global sales of USD 55.4 billion (KRW 61.4 trillion), LG comprises five business units ― Home Appliance & Air Solutions, Home Entertainment, Mobile Communications, Vehicle Components and B2B ― and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more news and information on LG Electronics, please visit www.LGnewsroom.com.

About LG Business Solutions

The LG Electronics USA Business Solutions division serves commercial display customers in the U.S. lodging and hospitality, digital signage, systems integration, healthcare, education, government and industrial markets. Based in Lincolnshire, Ill., with its dedicated engineering and customer support team, LG Business Solutions delivers business-to-business technology solutions tailored to various business environments. LG Electronics USA Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics Inc., a $55 billion global innovator in technology and manufacturing. LG is a 2018 ENERGY STAR^® Partner of the Year-Sustained Excellence. www.LGSolutions.com.

SOURCE LG Electronics USA