Honeywell invests $34 million in India technology center

Honeywell has invested $34 million to build a new technology center in Gurgaon.

The 95,000 square foot center will initially have 40 researchers and is expected to grow to 170 in the next five years.

The company aims to expand its technology development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technologies and applications.

''This new facility will allow Honeywell to put its vast resources to work in collaboration with some of the brightest engineering minds in India,'' said Rajeev Gautam, president and CEO of Honeywell's UOP, who officially opened the center at a ceremony attended by Jaipal Reddy, India's minister of Petroleum & Natural Gas, and other dignitaries.

The technology giant which has five manufacturing locations,10 key offices and sales presence in more than 50 cities has shown tremendous growth with 1,000 employees in 2002 to more than 12,500 at present.

Additionally, the facility will support PMT's (performance material and technologies) efforts to develop new low-global-warming refrigerants, blowing agents and other materials.

''Honeywell is an industry leader when it comes to investing in research and development,'' said Mark Turowicz, managing director of Honeywell Performance Materials and Technologies India.

The Honeywell India Technology Center will primarily support Honeywell UOP's work in developing and licensing process technologies used in refining and the production of petrochemicals and renewable fuels.