The new company, LG-Hitachi Water Solutions Co Ltd, is scheduled to begin operations this October and will be based in Seoul, South Korea.
LG-Hitachi Water Solutions will initially focus on municipal water supply systems, municipal sewage treatment systems, industrial water supply systems, industrial wastewater treatment systems and reuse and recycling of wastewater for local companies and governments.
LG will hold a 51% equity stake in LG-Hitachi Water Solutions, while Hitachi Plant Technologies will hold the remaining 49%.
LG will appoint the chief executive officer of the new company and Hitachi Plant Technologies will name the chief operating officer.
