Honeywell CEO David Cote meets Romanian PM in Bucharest, discusses new investments

David Cote, president and CEO of the US Fortune 100 company Honeywell met Romanian Prime Minister Emil Boc in Bucharest on Monday. Cote discussed the possibility of a state aid for an investment project which could stay between EUR 100 and EUR 200 million, according to Ziarul Financiar, quoting sources on the market. The Honeywell representative said Romania has become an important area for the group's investments, one of the main reasons being the high qualified workforce in the country, according to a statement by the Romanian Government. The meeting was also attended by Thomas Buckmaster, VP of corporate communications and president of the Honeywell foundation, Richard Graber, VP on governmental relations for Europe, Middle East and Africa, Daniela Pandrea, GM of Honeywell Buildings Solutions Eastern Europe, Russia & CIS, the US ambassador to Romania Mark H. Gitenstein and Edwin Kirkham, counselor with the US embassy to Bucharest. Honeywell owns a factory in Bucharest and one in Lugoj. In 2009, the company posted a turnover of EUR 70 million in Romania, where it employed 1,300 people. Honeywell produces technologies and equipments for several industries: aerospace and defense, transportation, construction, healthcare & medical, oil and gas, among others. The company's 2010 revenues forecast pointed to some USD 33 billion and a growth of five percent for 2011, according to BusinessWeek. editor@romania-insider.com