LS Group Chairman Koo Ja-yeol toured the group’s Chinese subsidiaries in Wuxi, Jiangsu Province, along with outside board members recently. It was the first time LS Group’s board, including outside board members, inspected overseas operations.
Seven board members, including LG Group Chairman Koo, held a regular board meeting at the Wuxi Industrial Complex over three days from May 14 and received a briefing on the group’s business activities in China. They toured plants of LS Cables & System, LSIS, LS Mtron and Daesung Electric in the industrial complex and gave words of encouragement to their executives and staff.
LS Group dedicated the Wuxi Industrial Complex, covering 330,000 sq. meters, as a bridgehead to make inroads into foreign markets in 2005. It now houses LS Cables & Systems, producing vehicle cables, LSIS, churning out electricity and automation systems, LS Emtron, producing injection machinery, and Daesung Electric producing automotive parts, including ABS.
LS Group has been expanding its business environs in China by acquiring local companies with future potential, Hongqqi Cable and System. The group now has production plants, sales companies, and R&D centers in 20 locations, including Beijing, Shanghai, and Chingtao on top of Wuxi.
LS’s operations in China, excluding Superior Essex, saw their sales reach $686 million in 2014, a more than eight-fold jump from some $83 million in its first year. The group plans to shift the Chinese operations’ management focus from outward growth to substantiality.
Later, LS Group met with Wuxi Mayor Quan and other city officials to extend thanks to them, and both sides promised to continuously strengthen business partnerships between LS and Wuxi City.
Koo was quoted as saying that he was so impressed that this industrial complex — whose surrounding seemed like an empty field at the time of dedication — has now changed into a dynamic industrial city, and this was owed in large part to the city’s support and concern.
China’s manufacturing industries are shifting from conventional outward growth to substantial growth. LS Group plans to develop Wuxi into one of China’s industrial centers by expanding cooperative ties in such energy efficiency areas in which LS accumulates smart factory technologies. The group is projected to expand its business portfolios with China not only in the conventional industries, but also in smart factory, smart grid, new energy storage and other energy efficiency sectors.
LSIS Unveils Vision of Smart Energy Future at Hannover Messe 2015
LSIS participated in the world’s largest industrial fair, Hannover Messe 2015, held in Germany from April 13~17, exhibiting its outstanding technologies including smart grids, High Voltage Direct Current (HVDC), Electric Energy Storage (EES), and photovoltaic systems, demonstrating its world-class competitiveness in the energy field.
LSIS installed 13 promotional booths at the fair (covering 117m2 in total), divided into four zones: Future Smart Energy, Innovative Solutions, Infrastructure Solutions and Intelligence Solutions, with a concept of Integrated Solutions & Global LSIS, demonstrating its world-class total solutions in the power, automation and green business sectors.
The Hannover Messe, begun in 1974 and now the world’s largest industrial fair, is held annually in the Hannover international fairground (Hannover Messegelaende). Each year it attracts over 200,000 visitors hoping to check out the latest products and technologies in various key industries.
The Innovative Solutions Zone exhibited the company’s competitive total solutions for smart grids, ranging from smart meters to power distribution automation systems, next-generation power transmission technology HVDC products, large-capacity EES and the Jeju HVDC demonstration complex model.
The Home Energy Management System (HEMS), which offered viewers a first-hand experience of the future of smart energy, received favorable responses from visitors to the fair.
LSIS’s HEMS solution is designed to integrate the management of information on solar energy generation, total energy consumption, EES charging amount and individual electronics at a smart home installed with the company’s home solar power generation solution, home EES, smart meters and other innovations.
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