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.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.