[Aju News DB ]
LG Hausys, an industrial material manufacturing arm of South Korea's LG Group, said Friday it would absorb a joint venture with a German company to strengthen its glass business.
The joint venture was established in 2010 between LG Hausys and German glass processing specialist Interpane to manufacture energy-efficient and low-emissivity glass called Low E-glass. The Korean company owned 80 percent and Interpane controlled 20 percent.
LG Hausys said in a regulatory filing that it would complete the acquisition of a 20 percent stake from Interpane by the end of this year for independent glass production.
The acquisition indicates LG Hausys has mastered LOW E-glass technology, but the Korean company promised to continue strategic cooperation with the German partner.
Low E-glass blocks ultraviolet and infrared rays and controls heat transfer by up to 60 percent.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
