LG will invest more than US$400 million over the next ten years in water treatment with the goal of generating US$7 billion in revenue from the sector by 2020 and becoming a top 10 global water treatment company.
The US$400 million investment will be used to acquire technology and to build up research and development (R&D) in the water treatment field. LG will concentrate its R&D efforts on developing an advanced membrane filtration system, hiring membrane filtration experts and process engineers. The company will also look towards partnerships and mergers and acquisitions in an effort to grow quickly in the sector.
LG says it will begin with industrial water treatment and expand into sewage and drinking water treatment. Longer term the company plans to move into water treatment engineering and procurement as well as operation and maintenance across the municipal sector.
