Latest news with #ShakerGroup
Hans India
06-07-2025
- Business
- Hans India
LG Electronics to work with Saudi Arabia to develop HVAC solutions
LG Electronics, South Korea's leading home appliance maker, said on Sunday it will join hands with Saudi Arabia to develop heating, ventilation and air conditioning (HVAC) solutions for regions prone to extreme heat. LG Electronics has decided to conduct a joint research project on developing HVAC technologies that deliver high-efficiency and high-performance even under extremely high temperatures with Saudi's major home appliances company Shaker Group and researchers from King Saud University in Riyadh and Pusan National University in Korea's southeastern city of Busan, according to company officials. Under the joint project, LG Electronics will provide system air conditioners for commercial use and households in the Middle Eastern country, which will be installed and operated by Shaker Group, reports Yonhap news agency. In detail, the Korean company plans to test its engine powered by artificial intelligence (AI), which can increase energy efficiency by automatically controlling air conditioning in line with the temperature. "This collaboration will serve as an opportunity for us to further strengthen our capabilities in HVAC solutions tailored for extremely hot regions," an LG Electronics official said. "We will continue to enhance our technological competitiveness in the global HVAC market by systematically establishing research and development infrastructure for each climate zone." Last month, LG Electronics said it has acquired a Norwegian hot water storage company to strengthen its foothold in the European air and water heating markets. The company said it acquired a 100 percent stake in OSO Group AS, a firm known for its smart stainless steel hot water tanks, aiming to enter the water heating segment in addition to its existing air heating business. LG Electronics did not disclose the acquisition price. "LG Electronics' high-efficiency air-to-water heat pump (AWHP) systems, combined with OSO Group's innovative hot water storage solutions, will help the company expand its presence in Europe's heating, ventilation and air conditioning (HVAC) market," the company said in a statement.
Zawya
21-04-2025
- Business
- Zawya
Saudi: Shaker Group unveils 5% of capital as dividends for 2024
Riyadh – Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) announced cash dividends amounting to SAR 27.75 million, representing 5% of the capital, for 2024. Shaker Group will pay out a dividend of SAR 0.50 per share for 55.50 million eligible shareholders, according to a bourse disclosure. Meanwhile, the distribution date will be announced at a later time. The company's net profits jumped by 24.70% year-on-year (YoY) to SAR 81.58 million in 2024 from SAR 65.42 million. Source: Mubasher
Arab News
10-02-2025
- Business
- Arab News
LG Electronics, Shaker Group mark 30 years of sustainable HVAC innovation
LG Electronics Saudi Arabia and Al-Hassan Ghazi Ibrahim Shaker Co., an importer, manufacturer and distributor of air conditioners and home appliances in the Kingdom, are celebrating their 30-year partnership, a journey marked by innovation and excellence in the heating, ventilation, and air conditioning industry. This long-term alliance will continue to promote LG's innovative HVAC solutions, and reinforce LG and Shaker's position as a leading HVAC solution provider in the Kingdom. These advanced solutions include residential and commercial air conditioning and chiller systems. All are designed to emphasize 'Made in Saudi,' sustainability, energy efficiency, and alignment with Saudi Vision 2030's development goals. The HVAC sector has undergone profound change in recent times, with artificial intelligence and Internet of Things boosting innovation in the field. Today, customers expect solutions to be more sustainable, efficient, and optimized for operations than ever before. LG and Shaker Group have been at the forefront of this evolution with advanced products like the LG Multi V I, which is expected to launch in the Kingdom later this year. LG Multi V I uses integrated AI algorithms to analyze real-time data and thereby optimize energy usage. This enables the product to be flexible enough to adjust cooling during peak hours as well as monitor room occupancy to ensure temperature levels are ideally set with minimal manual input. This makes it the premier option for consultants in charge of complex projects. Pilwon Jung, MEA regional representative of LG Electronics, said: 'Over the past three decades, LG has collaborated with Shaker to deliver the most advanced HVAC solutions to meet the evolving needs of our customers. Our commitment to driving growth, enhancing customer satisfaction, and contributing to the Kingdom's sustainability goals remains stronger than ever.' The partnership was launched in 2008 with the establishment of a joint venture factory in Riyadh that initially produced up to 750,000 units annually. This was a critical step in localizing production while addressing the Kingdom's pressing need for HVAC solutions. In recognition of the remarkable milestones achieved, LG and Shaker Group will be honoring key stakeholders who have played significant roles in realizing the partnership's objectives. This move underscores their shared commitment to fostering a culture of excellence and acknowledging the invaluable contributions of their partners. Mohammed Ibrahim Abunayyan, CEO of Shaker, said: 'Our 30-year collaboration with LG Electronics Saudi Arabia is a testament to our shared commitment to innovation and contributing to the Kingdom's prosperity. This enduring partnership reflects our joint dedication to delivering leading, cutting-edge, energy-efficient HVAC solutions that align with Saudi Arabia's strategic vision while meeting the evolving needs of our valued consumers. Together, we continue to drive excellence, shaping a future of progress and sustainable development.' As they celebrate this milestone, LG and Shaker Group reaffirm their commitment to promoting sustainable and energy-efficient HVAC solutions that align with Saudi Vision 2030 and contribute to a diversified economy.
Al Bawaba
05-02-2025
- Business
- Al Bawaba
LG Electronics Saudi Arabia and Shaker Group Mark 30 Years of Sustainable Innovation in HVAC Solutions
LG Electronics Saudi Arabia and Al Hassan Ghazi Ibrahim Shaker Co. ('Shaker', the 'Group' or the 'Company'), Saudi Arabia's leading importer, manufacturer and distributor of Air Conditioners and Home Appliances, are celebrating their 30-year partnership, a journey marked by innovation and excellence in the Heating, Ventilation, and Air Conditioning (HVAC) long-term alliance will continue to promote LG`s innovative HVAC solutions, and reinforce LG and Shaker`s position as a leading HVAC solution provider in the Kingdom of Saudi Arabia. These advanced and innovative solutions include residential and commercial air conditioning and chiller systems. All are designed to emphasize 'Made in Saudi', sustainability, energy efficiency, and alignment with Saudi Vision 2030 development this period the HVAC sector has undergone profound change with the impact of Artificial Intelligence and Internet of Things boosting innovation in the field. Today customers expect solutions to be more sustainable, efficient, and optimized for operations than ever before. LG and Shaker Group have been at the forefront of this evolution with advanced products like the LG Multi V™I which is expected to be launched in the Kingdom later this year. LG Multi V™I uses integrated AI algorithms to analyze real-time data and thereby optimize energy usage. This enables the product to be flexible enough to adjust cooling during peak hours as well as monitor room occupancy to ensure temperature levels are ideally set with minimal manual input. This makes it the premier option for consultants in charge of complex on the partnership Mr. Pilwon Jung the MEA Regional Representative of LG Electronics, said: "Over the past three decades, LG has collaborated with Shaker to deliver the most advanced HVAC solutions to meet the evolving needs of our customers. Our commitment to driving growth, enhancing customer satisfaction, and contributing to the Kingdom's sustainability goals remains stronger than ever."The partnership was launched in 2008 with the establishment of a joint venture factory in Riyadh that initially produces up to 750,000 units annually. This was a critical step in localizing production while addressing the Kingdom's pressing need for HVAC recognition of the remarkable milestones achieved, LG and Shaker Group will be honoring key stakeholders who have played significant roles in realizing the partnership's objectives. This move underscores their shared commitment to fostering a culture of excellence and acknowledging the invaluable contributions of their Mohammed Ibrahim Abunayyan, Chief Executive Officer of Shaker, added:"Our 30-year collaboration with LG Electronics Saudi Arabia is a testament to our shared commitment to innovation and contributing to the Kingdom's prosperity. This enduring partnership reflects our joint dedication to delivering leading, cutting-edge, energy-efficient HVAC solutions that align with Saudi Arabia's strategic vision while meeting the evolving needs of our valued consumers. Together, we continue to drive excellence, shaping a future of progress and sustainable development." As they celebrate this milestone, LG and Shaker Group reaffirm their commitment to promoting sustainable and energy-efficient HVAC solutions that align with Saudi Vision 2030 and contribute to a diversified economy.
