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LGE acquires auto engineering firm
LG Electronics on Wednesday said it has purchased V-ENS, an affiliate of LG CNS, to pursue a merger on July 1.
V-ENS is a company specializing in automotive engineering and consulting involving mostly the building process.
LG Electronics said the 17 billion won deal was aimed at delving into the automotive parts industry and obtain the necessary knowledge and expertise for helping car infotainment — also known as in-car entertainment — programs take off.
V-ENS was spun off from LG CNS in January 2004. Its sales reached 109.7 billion won last year.
By Kim Ji-hyun
(jemmie@heraldcorp.com)
LG Electronics on Wednesday said it has purchased V-ENS, an affiliate of LG CNS, to pursue a merger on July 1.
V-ENS is a company specializing in automotive engineering and consulting involving mostly the building process.
LG Electronics said the 17 billion won deal was aimed at delving into the automotive parts industry and obtain the necessary knowledge and expertise for helping car infotainment — also known as in-car entertainment — programs take off.
V-ENS was spun off from LG CNS in January 2004. Its sales reached 109.7 billion won last year.
By Kim Ji-hyun
(jemmie@heraldcorp.com)
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Articles by Korea Herald
