Korean building materials company LX Hausys said Wednesday it will cooperate with Reynaers Aluminium, a Belgian manufacturer of aluminium products, in a bid to accelerate its entry into the domestic aluminum window market.
With a memorandum of understanding signed with Reynaers Aluminium in the headquarters of LX Hausys in Seoul, LX Hausys said both companies plan to comprehensively cooperate in the overall process of designing, manufacturing and developing technologies needed to produce high-end aluminum window products.
By the second half of this year, LX Hausys said the two companies will introduce state-of-art windows such as ultraslim and highly insulated aluminum windows, along with windows that are strongly resistant to wind and typhoons.
According to LX Hausys, its strategic partnership with Reynaers Aluminium comes as demand for aluminum windows is increasing not only in high-end facilities such as luxury resorts and hotels in Korea, but also for remodeled apartment complexes.
"We expect the partnership between Reynaers Aluminium, who have the best technology in the aluminum window-related field, and LX Hausys, the No. 1 window manufacturing company in Korea, to not only achieve a great synergy, but also help gain a momentum in successfully targeting the market," said LX Hausys President Han Myeung-ho during the signing ceremony for the memorandum.
"In the future, we expect the two companies to increase their market share in the Korean market with perfect partnership and achieve good results from a long-term perspective," said Andreas Wilsdorf, vice chairman of Reynaers Aluminium.