LG Electronics (LG) announced today that it will enter the water treatment market to help combat global water supply issues and to move further toward becoming a more environmentally sustainable business. LG will invest more than USD 400 million over the next decade with the goal of generating USD 7 billion in revenue by 2020, in the process becoming a top 10 global water treatment company. Much of the investment will go toward acquiring the right technology and building up research and development in this field. “Water affects every aspect of our lives, yet almost one billion people around the world don`t have clean drinking water and more than 2.5 billion still lack the most basic sanitation,” said Young-ha Lee, President and CEO of the LG Electronics Home Appliance Company. “LG hopes to be able to make a small but significant contribution to alleviating this global problem with its commitment to finding solutions through innovation and technology.” Read More
