LG and Honeywell Partner for Building Automation

LG Electronics and Honeywell have announced a strategic partnership to further enhance their range of building management technology products and services. The partnership agreement will see both companies join forces and cooperate on all levels of product development right from providing technology solutions and services, product engineering, training, marketing and finally sales and after-sales services.

According to industry figures, the building automation sector -though fairly new - is seeing substantial growth worldwide. The market grew from US$90 billion last year to US$94 billion in 2008 – reporting an increase of approximately five percent.

“Intelligent buildings and automated services are in high-demand in today’s fast paced life. Convenience and clever technology is being used to replace even the simplest tasks especially across the region,” said K.W. Kim, CEO of LG Electronics Middle East and Africa Regional Company. “LG already has a successful range of home solutions and we believe there is opportunity for further growth within this sector which led us to partner with industry specialists, Honeywell.”