Wilo-Salmson acquires Korean pump manufacturer
Wilo-Salmson AG, one of the world's leading manufacturers of pumps and pump systems, has announced the acquisition of 80 % of shares of the pump segment from LG Cable Ltd, Seoul / Korea. The new cooperative venture Wilo-LG Pumps Ltd. had annual sales of approximately $70 million in the year 2000. With that the turn-over of the Wilo-Salmson Group will increase to more than 1 billion DEM.
Together with its existing activities Wilo-Salmson aims to consolidate its market position in Korea and the Asian region. The own subsidiary of Wilo-LG Pumps Ltd. in China is an important fact for this expansion.
The product line of LG Pumps contains household pumps, agri-industrial pumps, engine pumps, chemical pumps etc.
Further facts about the business activities of LG Pumps:
- acquiring ISO-9001, ISO-14001 certification
- foundation of Indonesia LGEBI, vietnam LGEMH joint venture co
- development & production of booster unit pump
Source: WILO SE