LG Electronics Signs Audio Deal With Volkswagen

SEOUL -(Dow Jones)- South Korea's LG Electronics (066570.SE) said on Sunday it has signed a deal with Germany's Volkswagen (VOW.XE), Europe's largest auto maker, to supply car audio systems worth about $370 million for seven years beginning in 2012.

"LG will be one of the largest suppliers of audio systems for three different automobile brands under the Volkswagen Group--Volkswagen in Germany, SEAT in Spain and koda in the Czech Republic," the company said in a statement.

The two companies have been in a partnership for car audio systems since 2007, LG Electronics added.

-By Jin-Young Yook, Dow Jones Newswires; 822-2198-2230; jin-young.yook@dowjones.com

(END) Dow Jones Newswires

10-25-09 0429ET