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Carrier to invest $50 million in new R&D center in India |
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Wednesday, 02 January 2008 |
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Carrier, a unit of United
Technologies, will invest $50 million in India during the next three years
to build a new global research and development (R&D) center, develop
industry-leading products and technology for local markets and significantly
enhance Carrier’s manufacturing operations.
 "Carrier’s investment
marks a new milestone in our growth in India," said Carrier President
Geraud Darnis. "It will further strengthen our leadership position in
India and enable us to bring the latest technology along with innovative and
energy-efficient products and services to the local market." India has one
of the fastest growing economies and is a strategically important market for
Carrier. Since 2004, the Indian air conditioning and refrigeration market has
grown 25 percent annually and is expected to become one of the largest markets
in the world by 2012.
Carrier
expects the new facility to open in 2009, making it the company’s third global
R&D center in Asia. It will bring Carrier’s industry-leading technology to
India and facilitate the local development of new products. According to the company’s press release, the center will include a
state-of-the-art facility to educate and train Carrier India’s customers on its
products. The company will also expand its workforce and expects to add 100 new
positions, most of them in highly skilled areas such as engineering. |
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