BIZCHINA / Overseas Investment |
Honeywell opens new global engineering center(Xinhua)Updated: 2007-05-14 17:09 U.S. manufacturer Honeywell International opened a new global engineering center in the southwestern Chinese city of Chongqing on Monday, which will offer solutions for a wide range of industries. The new center, Honeywell (China) Advanced Solutions, is the first of its kind in China. China is a very important market for Honeywell, and Chongqing has fast become an emerging technology hub that offers Honeywell access to highly skilled technical talent, announced Honeywell Chairman and CEO Dave Cote at the opening ceremony. Honeywell is confident that Chongqing is the right location for our new facility and will quickly become a leader in driving innovation and continued growth for Honeywell globally, he added. Honeywell Process Solutions, which delivers automation technologies and solutions for a wide range of industries including refining, oil and gas, pulp and paper, mining, minerals and metals, bulk and batch chemicals, pharmaceuticals and power generation, will be the primary business in the new facility, company officials have said. Honeywell International is a 33 billion U.S. dollar, diversified technology and manufacturing corporation, serving customers worldwide with a wide array of products and services. Based in Morris Township, New Jersey, Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. It is one of 30 companies that comprise the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. The company began operation in China in 1935 and has established 21 joint ventures and wholly-owned subsidiaries across 13 cities. In 2003, Honeywell moved its Asia-Pacific corporate headquarters to Shanghai, launching a Shanghai-based R&D center the following year, with an investment of 80 million U.S. dollars. Currently, the company invests more than 500 million U.S. dollars in China, employing almost 5,000 people. (For more biz stories, please visit Industry Updates) |
|