Sales boost for LG but no bid for Goodman
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LG Air Conditioning saw worldwide sales increase by 50.5 per cent in the last quarter of 2010, compared to the same period in 2009. Full year sales reached $4.2bn, 12.2 per cent higher than 2009.
Significant growth was experienced in Middle East, Africa, Central and South America and stronger overseas commercial ac sales.
The Korean manufacturer also confirmed that it would not be making a bid for US air conditioner manufacturer Goodman Global despite being approached by San-Francisco-based private equity firm Hellman & Friedman. Japanese manufacturer Daikin is still considering making a bid.
28 January 2011