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US firm to invest $41mn in aerospace/ natural gas businesses

 


May 28, 2008

MALAYSIA/INVESTMENT
US firm to invest $41mn in aerospace/ natural gas businesses

The US-based Honeywell International will invest a total of $41 million in natural gas and aerospace businesses in Malaysia through its two business groups, UOP LLC and Honeywell Aerospace.

UOP will set up a natural gas processing design center in Kuala Lumpur with an initial investment of $5 million by year-end, said Neal F Speranzo, Honeywell's Vice President of integrated supply chain, aerospace.

The aerospace unit will build a manufacturing facility in Malaysia's northern Penang state to support manufacturing needs for communication and navigation equipment for business, commercial and general aviation aircraft with an initial investment of $36 million, he said.

Of the amount, $24 million will be used to build the facility, and the remaining for test equipment, he said at a press conference.

Construction of the new 220,000-square-foot facility in Penang to support aerospace has just begun, and avionics manufacturing is scheduled to start at the facility by the end of the year.

Over the next 24 months, Honeywell Aerospace will begin avionics manufacturing operations for cockpit displays, electro mechanical equipment and computer components.



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