Honeywell posts $550 million sales in India in 2010
By IANSSunday, January 23, 2011
HYDERABAD - Honeywell International, a Fortune 100 globally diversified technology and manufacturing leader, recorded sales of $550 million in India last year and expects a growth of 15 percent this year, a top company official said Sunday.
Sales grew by 15 percent in 2010 and are expected to grow on the same trajectory during the current year, said Krishna Mikkilineni, president, Honeywell Technology Solutions (HTS) and vice president (engineering and operations), Honeywell International.
Talking to reporters after the inauguration of the research and development (R&D) centre of HTS, he said India, China and Middle East remained the high growth markets for the company in aerospace, automation and control solutions, transportation systems and specialty materials.
Honeywell International, which posted global sales of over $33 billion in 2010, employs more than 11,000 people in India, accounting for eight percent of its global headcount. The R&D team of Honeywell in India accounts for 25 to 27 percent of its R&D personnel in the world.
Andhra Pradesh Chief Minister N. Kiran Kumar Reddy inaugurated the first phase of the R&D centre, built with an investment of Rs.100 crore and employing 500 engineers. He also laid the foundation stone for the second phase of the centre.
The chief minister also inaugurated state-of-the-art Flight Operations Centre (FOC), the only facility of its kind in the private sector in India, which can monitor aircraft movement anywhere in the world.
Krishna said Honeywell had relocated some of its operations from its FOC in Washington. The FOC in Hyderabad can monitor 14,000 commercial and business flights across the world. Nearly half of the aircrafts in the world use systems designed and developed by Honeywell, the world’s largest maker of cockpit electronics.
It globally supplies advanced cockpit controls, safety products, engines and other mission critical systems for commercial and business aircrafts, fighter jets and spacecraft.
Honeywell has collaboration with Hindustan Aeronautics Limited (HAL) for several products including manufacturing of engines for the global market and to power the Dornier 228 aircraft of the Indian Navy and Coast Guard. Honeywell systems and sub-systems are key components of India’s indigenous light combat aircraft (LCA) and advanced light helicopter (ALH).
Honeywell is already in talks with the Indian Air Force to replace its F 125 IN turbofan engines for their Jaguar fighter aircraft.
Jim Bujold, president, Honeywell India, said the company had huge potential to grow in India, which offers both talent and a market.
The first phase of the R&D centre at Nanakramguda will employ 1,000 people after fully commissioned by the end of this year.
Headquartered at Morris Township in the US, Honeywell has presence in 95 countries with an employee base of 125,000.
