Global air conditioning giant LG is aiming to increase massively its share in the UK air conditioning equipment market.
Worldwide sales in the air conditioning sector accounted for around $2 billion of LG ELectronics' turnover in 2003, however it predicts this will grow to $4 billion by 2005.

The company currently has a global market share of just under 19%, operating in 150 countries with a leading market share in 45 of these including the US and Russia. It is currently ranked fourth in the UK but is aiming to claim the top spot in the near future with increased sales in both the residential and commercial markets.

Plans to expand its investment in research and development are key to this strategy. Around 5% of sales will be reinvested in product development, which is carried out in eight global research centres including Seoul and Chang Won in South Korea.

It is also planning to double the number of training centres it has, with plans to open four more during the coming year in Spain, Australia, India and Saudi Arabia.