New focal point of Honeywell – India
Both tranquility and dearth of vulnerability in the Indian economy during the omnipotence of last downturn astounded the global arena and made it comprehend the intrinsic strength of this impending superpower; all these factors have invigorated several internationally renowned companies to make India the most potent focal point. One of them is surely the US-based multinational company Honeywell and as per the latest information, it is contriving to set up a new technology centre in India with an investment of $34 million.
"The centre will also include labs for process and applications development for other specialty materials technology areas, including fluorine products and nylon materials," the company said in a release. It is to be noted that the proposed centre is likely to employ 100 people in five years. Honeywell will invest $34 million in an existing property to develop the centre at Gurgaon.
On the word of Andreas Kramvis, president and chief executive of Honeywell Specialty Materials, this centre will enable the company to conduct development closer to its end customers, while at the same time tapping the recognized engineering talent of India. Honeywell (legally Honeywell International Inc.) happens to be a major conglomerate company that is known for producing an assortment of consumer products, engineering services, and aerospace systems for a wide variety of customers, from private consumers to major corporations and governments.
It is also a Fortune 500 company with a workforce of approximately 128,000, of which approximately 58,000 are employed in the United States. The company is headquartered in Morristown, New Jersey. Its current chief executive officer is David M. Cote. The company and its corporate predecessors were part of the Dow Jones Industrial Average Index from December 7, 1925 until February 9, 2008.
Some of the most recognizable products are its line of home thermostats (particularly the iconic round type), Garrett turbochargers, and automotive products sold under the names of Prestone, Fram, and Autolite.
