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US-based Honeywell International has opened a new research, development and engineering facility at Bangalore on Thursday (May 7). The technology and manufacturing firm has set up the new facility with an investment of $50 million. This is the second R&D facility in Bangalore, which will accommodate about 3,000 people. While inaugurating the new facility, company chairman and CEO David Cote said that India is an integral part of Honeywell's global growth strategy.
According to him, Honeywell International will keep up its efforts to grow and build capabilities in India. He said that in India the company is considering to increase its growth in key segments like aerospace, automation and control solutions, wireless, turbo chargers and speciality materials. Honeywell International is expected to tie up with Hindustan Aeronautics (HAL) to produce TPE331 aircraft engines in India.
The US-based company is expected to garner about $600 million revenue in 2009 from India. Currently, Honeywell has 10,000 employees across five manufacturing units in India. The new research and development facility at Bangalore is spread over an area of 600,000 sq ft, which is likely to generate new jobs in the face of global economic recession.
