New Aviation OLED Development Effort To Commence Early 2019

LG Electronics and Lufthansa Technik AG will jointly develop, produce and market LG's innovative OLED displays for commercial airplane cabins, the companies announced today. The new venture will be based in Hamburg, Germany and will commence operation in the first half of 2019.

The new joint venture will combine LG's advanced, lightweight and flexible OLED display technology with Lufthansa Technik's aviation business capabilities to create new markets for on-board aircraft applications such as welcome board screens and interior linings.

"We are very excited to be joining hands with Lufthansa Technik to expand the reach of LG's innovative consumer electronic technologies to commercial aircrafts," said Soon Kwon, president of the LG Business-to-Business Company.

"Both partners contribute a globally recognized reputation in their respective business areas to create a new flying experience for the passengers," added Dr. Johannes Bussmann, chairman of Lufthansa Technik's executive board.

Closing of the agreement, which was inked last week in Hamburg, is subject to regulatory approval.

(Source: LG Electronics news release)

FMI: www.LGSolutions.com, www.lufthansa-technik.com