Financial Daily from THE HINDU group of publications
Friday, Apr 14, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 14, 2006 |
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Corporate
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New Projects States - Andhra Pradesh Honeywell opens R&D centre Our Bureau
Hyderabad , April 13 Honeywell International, the $30-billion diversified technology and manufacturing company, has announced plans to set up an R&D centre here on a 10-acre site. The company also indicated that it plans to double its India headcount to about 8,000 over the next three to four years. The Chief Information Officer of Honeywell, Mr Larry E. Kittelberger, said that India was a strategic arm for Honeywell operations and the company currently has a research centre in Bangalore. The move to expand to Hyderabad was prompted by the need to tap the large talent pool and the pro-active support of the State Government. While the company refrained from indicating the amount it plans to invest in India, the State Government hinted that it would be about Rs 45 crore ($10 million). After laying the foundation stone of the company campus, which is likely to be ready by the first quarter of 2007, the Chief Minister, Dr Y.S. Rajasekhara Reddy assured the company all support and invited it to explore the possibility of expanding into the Tier II cities of Kakinada, Visakhapatnam and Tirupati.
More Stories on : New Projects | Research & Development | Andhra Pradesh | Human Resources
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