Tuesday, December 20 2005 19:46 Hrs (IST) - World Time -

Bangalore: Honeywell, a diversified technology and manufacturing firm, today (Dec 20, 2005) said it hopes to become a USD half a billion company in India in the first half of next year.

"We are hopeful of achieving it (the mark)", Honeywell India Country Manager and Managing Director Ashwani Gupta told reporters at the company's Technology Forum showcasing its innovations in aerospace, automation and control, turbo technologies and speciality materials here.

Gupta said by 2010, Honeywell would become a USD one billion company. "India is seeing tremendous growth in all the areas we are present".

Honeywell, present in India for many decades, has businesses headquartered in Pune, Bangalore, Chennai and Gurgaon, employing over 6,500 people. Its business is about USD 300 million.

At the global level, Honeywell is a leading player in the Automation industry with annual business of more than USD nine billion and 45,000 employees spread across 100 nations.

Honeywell Turbo Technologies, a global leader in turbochargers used in diesel engines to improve performance and reduce emissions, is entering the Indian market and has put up a USD 10 million plant at Pune, the company said.

Honeywell's presence in India includes software and engineering services centres of excellence in Bangalore, Pune and Madurai and manufacturing facilities in Pune, Chennai and Gurgaon.