Samsung and LG Strengthen European HVAC Footprint Amid Sustainability Push
- brg_news_room
- Jul 1
- 1 min read
SOUTH KOREA: South Korea’s leading electronics companies, Samsung Electronics and LG Electronics, are aggressively expanding their European HVAC footprint, that is, heating, ventilation, and air conditioning (HVAC) businesses in Europe through major acquisitions, aligning with the European Union’s carbon-neutral policies while tapping into a rapidly growing market.
LG Electronics announced its complete acquisition of Norwegian hot water solutions company OSO, aiming to strengthen its footprint in Europe’s heat pump sector. Founded in 1932, OSO specializes in stainless steel water storage systems and electric water heaters, technologies that align well with LG’s high-efficiency HVAC product portfolio.
The acquisition is strategically positioned to capture the increasing integration of heat pumps and hot water systems in Europe, where heat pumps are gaining traction as sustainable alternatives to fossil-fuel heating. Heat pumps, which absorb heat from the environment for indoor heating, are a key component of next-generation HVAC solutions.
Meanwhile, Samsung Electronics is taking a different approach by targeting large-scale infrastructure. In May, Samsung acquired Germany’s FläktGroup, Europe’s largest HVAC company, from the U.K.-based private equity firm Triton for €1.5 billion (approximately US$1.6 billion).
Source: Korea Bizwire
