Samsung Electronics Co. announced on Tuesday that it has reached an agreement to establish a joint venture with a prominent provider of climate solutions for the heating, ventilation, air-conditioning, and refrigeration industry in the United States and Canada. The newly formed JV, named Samsung Lennox HVAC North America, will focus on the sale of ductless AC and heat pump products in these regions. Samsung will hold a 50.1 percent stake in the JV, while the remaining ownership will be held by Lennox. The specific investment amount for the JV was not disclosed by Samsung. The JV will be responsible for distributing Samsung ductless AC and heat pump products, as well as "Lennox powered by Samsung" branded products, through Lennox stores and a direct-to-dealer network. Samsung Electronics Co. has announced its partnership with a leading climate solutions provider to establish a joint venture, Samsung Lennox HVAC North America, which will operate in the United States and Canada. The JV, in which Samsung will hold a 50.1 percent stake, will focus on selling ductless AC and heat pump products. The specific investment amount for the JV was not disclosed. The JV will be responsible for distributing Samsung ductless AC and heat pump products, as well as "Lennox powered by Samsung" branded products, through Lennox stores and a direct-to-dealer network.