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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