LG Electronics and Honeywell recently announced that they have entered into a strategic partnership focused on creating intelligent building systems.
According to figures released by LG, the building control system industry has grown significantly across the globe and is expected to gross $94 billion in 2008, up from $90 billion in 2007.
In a prepared statement, executives from both companies said that they expected the partnership to increase their presence in the market and allow them to deliver more comprehensive solutions to their customers.