LS

■ LSIS invites top executives of the new subsidiary after acquiring the ESS Unit of North America’s ESS leader Parker-Hannifin

■ Executives hold in-depth discussion on synergy strategy between the two companies and visit major sites including factories in Cheongju and Cheonan and the R&D Center

LS Energy Solutions, which LSIS established in North America after taking over the ESS unit of Parker Hannifin, has taken its first step toward global business collaboration.

LSIS recently disclosed that the top management of LS Energy Solutions, including CEO James Hoelscher and more than ten heads of sales, business development, engineering, and marketing departments, visited the company from March 18 to 22 to discuss the future business strategy.

LSIS has signed a contract with Parker Hannifin to acquire the entirety of the latter’s tangible and intangible assets including the production facilities and personnel of its EGT unit and set up LS Energy Solutions as its subsidiary in North America in order to compete more effectively in the global ESS market.

Launched in 2007 to carry out the ESS business, the EGT unit of Parker-Hannifin is known to possess core technologies including world-class ESS systems and PCS designs as well as production, operation, and service technologies.

LSIS Chairman Ja-kyun Koo and LS Energy Solutions CEO James Hoelscher discussed strategies for annual planning and investment to build up a system of collaboration for entering not only the North American market but also the global market. 

In addition, both companies held the second R&D Workshop this year to share technologies and review the plan to create R&D synergy together.

The delegation from LS Energy Solutions then visited LSIS’s factories in Cheongju and Cheonan on March 20 to observe its power and automation solutions and its smart factory as well as the ESS PCS production line, which will play a significant role in the partnership. 

On the next day, they visited the R&D Campus in Anyang to observe how the ESS is actually operated and managed through the Building Energy Management System (BEMS). 

“We were confident that LSIS was investing heavily in strengthening its solutions and product technologies in the ESS sector. LSIS and LS Energy Solutions should be able to create highly effective energy solutions since LSIS has global competitiveness not only in ESS but also in total power solutions,” said LS Energy Solutions CEO James Hoelscher, who was visiting LSIS for the first time.

“We held in-depth and multidimensional discussions on our collaboration. It was a meaningful opportunity to expand the ESS business in the North American market in the future by sharing the overseas business channels of LS Energy Solutions,” an LSIS official said.