BIZCHINA / Overseas Investment
Carrier makes investment pledge as R&D center opens
(Shanghai Daily)
Updated: 2006-12-01 13:56
Air-con and refrigerator maker Carrier Corp will open its global research
and development center in Shanghai today and boost its investment in
research and development in China up to US$50 million over the next three
to five years.
The R&D center in Jinqiao, Pudong, is one of the American company's 18
global R&D centers. The 20,000-square-meter center will develop modeling,
acoustics and vibration and will provide technical support for Carrier's
operations in China.
The initial investment in the center topped US$20 million. The firm
started construction of the center in May last year.
Carrier also opened a joint venture in Chengdu in the western province of
Sichuan yesterday to make airside products for the high-tier airside
market in industries including electronics, pharmaceutical and food
processing. Carrier will hold 60 percent of the joint venture, while the
Eleventh Design & Research Institute of IT Co and its affiliate will hold
the remaining stake.
Together with the new venture - Chengdu Carrier-EDRI Air Conditioning
Equipment Co - Carrier has poured US$190 million in China.
"Carrier's new factory in Chengdu will serve as a bridge, bringing
Carrier closer to the western customers," said Philippe Delpech,
president of Carrier Building Systems & Services Asia. "The new factory
also allows Carrier to reduce operating costs on logistics and local
sourcing."
(For more biz stories, please visit Industry Updates)
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