Aviation: LG Electronics and Lufthansa
Technik Establish Joint Venture
LG Electronics (LG) and Lufthansa Technik AG
have announced that they will jointly develop, produce and market
LG's OLED displays for commercial airplane cabins.
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
aircraft," said Kwon Soon-hwang, president of LG's
Closing of the agreement, which was inked earlier this
week in Hamburg, is subject to regulatory approval.