LG Electronics (KRX:066570) is increasing its presence in the heating, ventilation, and air conditioning (HVAC) market by expanding cold chain products across industries, Pulse News reported Monday, citing industry sources.
The company recently supplied a refrigeration system to CJ Freshway's (KOSDAQ:051500) cafeteria at LG Sciencepark, which commenced operations in February. The company previously installed a cold chain system at Dongwon Loex's logistics center last year along with introducing the Hot Gas Smart Defrost Unit Cooler, the report said.
Shares of LG Electronics rose nearly 1% in recent trade on Tuesday while those of CJ Freshway fell nearly 5%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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