LG Electronics (LG) announced today that it is planning to relocate its European and German operations – currently located in greater London and greater Düsseldorf, respectively – to the Frankfurt metropolitan area. The move comes at a crucial time for the company as it looks toward the future and new opportunities not only in Germany, but across the whole of Europe as well. All positions will be maintained for employees who wish to relocate with the company.
The area of Frankfurt was selected as the new regional hub because Germany offered growth opportunities for LG aside of the strong consumer market also in the areas of LCD signage, solar, lighting and automotive components. Furthermore, Germany’s central location offered the best transportation links and infrastructure in the European region, allowing LG’s European personnel to be much closer to the countries they serve. Concurrently, LG’s German operation will move from Düsseldorf to Frankfurt to share facilities and support services with the European headquarters.
“We believe that Germany offers the best opportunities for LG going forward,” said Wayne Park, head of LG’s European operations. “The consumer electronics market is unpredictable and always changing but the commercial, energy and automotive components sectors continue to grow and expand. Germany is strong in all the areas in which we operate today and will be investing significantly more of our resources in the years ahead.”
The relocation will proceed over several months, with the Frankfurt office being opened towards the end of the year.