BIZCHINA / Overseas Investment
Honeywell to expand research center
(Shanghai Daily)
Updated: 2006-11-14 14:04
Honeywell said yesterday it will invest US$13.5 million to expand its
research hub in Shanghai as the New Jersey-based company seeks to better
support growing business in China and rest of the world.
The expanded research and development (R&D) center in the Zhangjiang
High-Tech Park will house engineering, design and development work of the
company's four key business sections - specialty materials, aerospace,
automation control and transport. The expansion will be completed in July
2007.
Nance Dicciani, chief executive of Honeywell Specialty Materials, said
the expansion will help enlarge the original research space by four times
and the number of research staff will rise from 40 to 60.
The Shanghai research center was opened in 2004 with an investment of
US$80 million. The center also serves as the company's Asia Pacific
headquarters.
Shane Tedjarati, Honeywell's global vice president, said the Shanghai
center will not only serve the China market, but also the Asia and global
markets.
"We create solutions here and the applications can be used by customers
all over the world," said Tedjarati, who is also the company's chief
executive for China business.
He said the company took only a short time to make the decision to expand
- only two years after the original center opened - because earlier goals
have been met ahead of schedule and exceeded expectations.
(For more biz stories, please visit Industry Updates)
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