LG ELECTRONICS, VIKING FORM STRATEGIC ALLIANCE
LAS VEGAS, Jan. 21, 2010 –Viking Range Corporation and LG Electronics, Inc. today announced that they have entered into a strategic alliance. Areas for collaboration include product cross-sourcing and joint procurement opportunities, and shared R&D and service resources, as well as expanded distribution.
Under the agreement announced today during the International Builders Show, LG plans to reach more U.S. consumers as Viking’s U.S. distributors will have the opportunity to carry premium LG appliances. This specialized distribution channel will complement LG’s existing U.S. network of national and regional appliance dealers. Viking plans to increase its international distribution, particularly in the rapidly expanding Asia/Pacific markets through its alliance with LG.
Fred Carl, Jr., CEO of Viking Range Corporation, said, “Teaming with LG will give our loyal distributors new growth opportunities while allowing Viking to work with one of the strongest global brands and technology leaders in home appliances. We look forward to this mutually beneficial relationship, including future opportunities for product development collaboration.”
“This alliance will leverage the respective brand, technology, marketing and distribution strengths of LG and Viking, enabling us both to satisfy a broader range of consumer needs,” said James Shad, President, LG Electronics USA. “Viking has built an exceptional brand, and LG is proud to be associated with this American icon’s heritage of quality and customer service.”
It is anticipated that Viking distributors will begin offering LG appliances beginning in the second quarter of 2010.
About Viking Range Corporation
Viking Range Corporation is a major appliance manufacturer and culinary lifestyle company that originated ultra-premium commercial-type appliances for the indoor and outdoor kitchen. Viking major appliances are sold through a network of premium appliance distributors and dealers worldwide. To request product information, please contact Viking toll-free at 888.845.4641, or visit www.vikingrange.com. VIKING is a registered trademark of Viking Range Corporation.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances and business solutions, under LG’s “Life’s Good” marketing theme. For more information, please visit www.LGusa.com.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 84,000 people working in 115 operations including 84 subsidiaries around the world. With 2008 global sales of $44.7 billion, LG Electronics is comprised of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both A Global Partner of Formula 1™ and A Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. Please visit www.lg.com.
LG ELECTRONICS USA
VIKING RANGE CORPORATION