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LG expects 50% rise in ac sales by 2010

THE world's no.1 maker of air-conditioners, LG Electronics, expects a 50% rise in commerical ac sales by 2010, following its plans to expand its energy solutions business.
LG expects 50% rise in ac sales by 2010
It expects its latest 'hybrid energy solution systems'' will increase air-conditioner sales by 46% to $7 billion in 2010, from $4.8 billion this year.

These hybrid energy solution systems' include Hybrid COGEN, Hybrid XEO and MultiV Super II. MultiV Super II is LG's next generation of VRF system and is set to be launched in the UK next Spring.

Hybrid COGEN simultaneously generates electricity and heat using liquefied natural gas which uses 32% less energy, while also reducing the emission of environmental pollutants including carbon dioxide. The Hybid XEO combines an efficient energy-saving inverter system air conditioner with geothermal heat pumps.

LG said the growth would mostly come from air-conditioners for commercial use.

'The proportion of sales of commercial air-conditioners will rise from 30% to 50% by 2010,'' said Lee Young-ha, CEO of LG's air conditioning division, in a press conference held in Seoul.

He said the company is set to invest 220 billion won in related research and development of projects over the next three years and will double the number of research staff to 2,100 up from 1,200 this year.

'Eco-friendly and energy efficient products are becoming more important especially these days. We are not only responding to energy-efficiency and eco-friendly needs but also finding a prime growth engine for the future,'' Lee said.

LG said the new energy system will be exported to overseas markets from the second half of 2009, focusing on European and African markets.

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