TORONTO, ONTARIO -- (Marketwire) -- 11/27/09 -- LG Electronics Canada congratulates the city of Montreal on securing a new agreement with Formula 1(TM), the world's foremost motorsport championship, to bring the iconic Formula 1 Grand Prix du Canada(TM) race back to Canada in 2010.
"Montreal auto racing fans are amongst the most passionate in the world and we're thrilled that Formula 1(TM) will be returning to the city in 2010," said Andrew Barrett, Vice President of Marketing and Global Sponsorship, LG Electronics. "LG's global sponsorship of Formula 1(TM) is a fantastic manifestation of our LG brand positioning - style and technology in perfect harmony - and Montreal will be one of the very special cities where LG will bring this vividly to life. As both the head of global sponsorship for F1(TM) at LG and as a proud Canadian, with my home still in Canada, I personally could not be more pleased that F1(TM) cars are returning to Canada in 2010."
The agreement, officially announced today by Montreal's Mayor Gerald Tremblay, will keep the Formula 1 Grand Prix du Canada in Montreal for the next five years. The Formula 1 Grand Prix du Canada is scheduled for Sunday, June 13, 2010 with a full schedule of events leading up to the race all weekend long.
"Formula 1(TM) has been an amazing Global Partner for LG and we're delighted that the FIA Formula 1 World Championship will be returning to Montreal in 2010," said Eric Agius, Chief Operating Officer, LG Electronics Canada. "Formula 1(TM) is one of the most dynamic sports in the world, relying on leading-edge technologies and continually pushing the boundaries of technological and engineering excellence. LG has a similar focus on innovation and technological leadership."
Bernie Ecclestone, Chief Executive Officer (CEO) of the Formula One(TM) Group said: "LG is a leader in its field. It pioneers stylish, technologically advanced products whilst delivering innovation and excellence in a premium package, which is exactly what Formula 1(TM) is all about. LG is a great fit for our brand."
LG Electronics signed its agreement to become a GLOBAL PARTNER of Formula 1(TM) and a TECHNOLOGY PARTNER of Formula 1(TM) in November 2008. As part of this top level association, LG also acquired the exclusive designations and marketing rights as OFFICIAL CONSUMER ELECTRONICS, MOBILE PHONE AND DATA PROCESSOR of this global sporting event. The multi-year agreement began in January 2009.
For more information about LG Electronics Canada, please visit www.lg.ca
About LG Electronics Canada
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, home appliances and mobile communications, employing more than 82,000 people working in 114 operations including 82 subsidiaries around the world. With 2007 global sales of USD $44 billion, LG is comprised of four business units - Mobile Communications, Digital Appliance, Digital Display and Digital Media. LG is the world's leading producer of mobile handsets, flat panel TVs, air conditioners, front-loading washing machines, optical storage products, DVD players and home theater systems. LG Electronics Canada has offices in Toronto and Vancouver. LG Electronics Canada is focused on delivering award-winning products known for blending style and technology. These innovative products include cell phones, flat screen TVs, laptop computers and digital appliances. For more information please visit www.lg.ca.
About Formula One(TM)
Formula One(TM), which began in 1950, is the world's most prestigious motor racing competition and is the world's most popular annual sporting series. In 2009 it was watched by over 600 million unique television viewers from over 180 territories.
The 2010 FIA Formula One World Championship(TM) will begin in March 2010 and will be staged over numerous races across six continents.
Formula One Administration Limited, a subsidiary of the Formula One group, was founded by CEO Bernie Ecclestone and holds the exclusive commercial rights to the FIA Formula One World Championship(TM).
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