According to Samsung, the newly established joint venture, named Samsung Lennox HVAC Norte America, will sell ductless AC and heat pump products in the countries.
The joint venture is 50.1 percent owned by Samsung, with the remaining stake held by Lennox, Yonhap news agency reported.
However, Samsung did not disclose the amount of investment for the joint venture.
“Our collaboration is focused on advanced HVAC product offerings and custom networks in the growing ductless segment, which will bring new solutions to the market. We look forward to launching innovative technologies together in the future,” K.S. he said. Choi, President and CEO of Samsung Electronics America.
According to the company, the joint venture will distribute Samsung ductless AC and heat pump products as well as "Lennox Powered by Samsung" branded products for Lennox, which will be sold through Lennox stores and direct-to-dealer network.
"It is an honor to work with Samsung as we invest in solutions to meet customers' HVAC needs," said Alok Maskara, CEO of Lennox.
The joint venture is 50.1 percent owned by Samsung, with the remaining stake held by Lennox, Yonhap news agency reported.
However, Samsung did not disclose the amount of investment for the joint venture.
“Our collaboration is focused on advanced HVAC product offerings and custom networks in the growing ductless segment, which will bring new solutions to the market. We look forward to launching innovative technologies together in the future,” K.S. he said. Choi, President and CEO of Samsung Electronics America.
According to the company, the joint venture will distribute Samsung ductless AC and heat pump products as well as "Lennox Powered by Samsung" branded products for Lennox, which will be sold through Lennox stores and direct-to-dealer network.
"It is an honor to work with Samsung as we invest in solutions to meet customers' HVAC needs," said Alok Maskara, CEO of Lennox.