Samsung and Lennox Establishes Joint Venture in US and Canada

USA/Canada: Lennox, a leading provider of climate solutions in the HVAC industry, has announced the establishment of a Joint Venture with Samsung. The purpose of this joint venture is to sell ductless AC and heat pump (mini-split, multi-split and VRF) products in the United States and Canada as well as "Lennox powered by Samsung" brand for Lennox, which will be distributed for sale through Lennox stores and a direct-to-dealer network.

The joint venture will continue providing Samsung-branded products to the current network of Samsung HVAC distributors and representatives in the United States and Canada.

The newly established joint venture will be called Samsung Lennox HVAC North America. Samsung will acquire 50.1% of the joint venture and Lennox will own the remaining 49.9%.

Source: Financial Times