• German company inge AG gains new sales partner in the form of Korean multinational LG Chem
GREIFENBERG, Germany, April 1, 2008 -- LG Chem., a subsidiary of LG Corp. in South Korea, was founded in 1947 as South Korea's very first chemicals company. It now employs more than 14,500 staff worldwide. The company has primarily focused on manufacturing petrochemicals, industrial materials, and information and electronic materials. With the addition of the 'drinking water treatment filter' made by the German ultrafiltration specialist inge AG to its product portfolio, LG Chem will now be playing as a supplier in the booming water markets of Japan and Korea. LG Chem is rapidly growing company with total revenue of USD 14.3 bil (KRW 13,5 tril) in 2007 and is, therefore, an extremely attractive partner for inge AG.
Wolfgang Distler, the Chief Executive of inge AG explains some of the benefits: "Demand for our dizzer modules is increasing in virtually every part of the world. We supply Europe and China through our own sales offices, while on the American continent and in Australia, New Zealand and Great Britain, our products are exclusively distributed by the company Siemens Water Technologies (WT). Our collaboration with LG Chem will now enable us to tap into a further region of the global market. LG Chem's strong presence in Korea and Japan, combined with the quality of our products, opens up enormous potential for both companies."
"Japan and Korea are growth regions where significant investments are currently being made in extending and modernising drinking water treatment facilities there. By entering this very promising market, we intend to offer our customers the very best technology available in the marketplace," said Dr. Yeong-Hwan Chung, Vice President of Industrial Materials Division at LG Chem. "That is why we have decided to form a cooperative venture with inge AG, the world's leading exponent of ultrafiltration technologies."
The globally active company inge AG, based in Greifenberg, Germany, develops, produces and markets ultrafiltration membranes and modules used in the treatment of drinking water, process water, and wastewater.
LG Chem, Ltd., is a vertically integrated chemical company that manufactures a wide range of products from petrochemical goods to high-value added plastics and high performance industrial materials.
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