Honeywell (NYSE:HON) increased the number of employees in its Middle East operations by 30% in 2005, and expects its workforce to grow another 20% this year as part of the region’s growing importance for Honeywell.
Addressing customers and employees at Honeywell’s annual Middle East Users’ Group Conference in Bahrain, Honeywell Chairman and CEO Dave Cote said: “The Middle East is a very important and high-growth market for Honeywell. Its growth in the region mirrors the strong momentum that Honeywell enjoys throughout its global operations.”
Ending his second tour of the region in six months, Cote addressed over 150 Honeywell Process Solutions users from Saudi Arabia, Kuwait, United Arab Emirates and Qatar, who attended the two-day conference.
Increasing global demand for oil, gas and hydrocarbon products are financing an economic boom throughout the region, which has resulted in economic expansion. “This growth will generate many exciting opportunities and the automation sector has a strategic role to play. Honeywell is stronger than ever to help customers make the most of the expanding opportunities and market challenges today and in the future”
Increasing local employment opportunities, building strong linkages through university relations and community outreach initiatives are an important part of Honeywell’s localization strategy in the Middle East. Honeywell plans to expand its educational initiatives and graduate programs in the region this year.
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2 - Dave Cote
Technology initiative - Honeywell sponsored four students last year through an initiative with technology colleges and more are expected to join the program this year. Honeywell provides the students with real-life training in a range of industries using the latest technologies to solve customer issues.
Trainee program – Honeywell hired eight graduate trainees in 2005, and the number of trainees is expected to more than double this year, including three from the Kingdom of Saudi Arabia.
Internship program - Honeywell expects eight students to gain first-hand experience and training while finishing their studies on the program.
“Our commitment to education and training and development in the region is for the long-term and will continue to expand. These initiatives aim to encourage the next generation of scientists, engineers and technologists, with the goal of developing a larger, more well-rounded and talented pool of future innovators and business leaders from the region,” added Cote.
The recent acquisition of building automation provider Novar and UOP, a supplier of process technology, has strengthened Honeywell’s ability to service the process, construction and energy industries in the region with technologies for improved safety, energy efficiency, reliability and security. “We made each of these acquisitions because of the compelling technology they make available to Honeywell and its customers. Honeywell is first and foremost a technology company,” said Cote.
During his tour of the region, Cote met with key customers from the oil and gas, aviation, construction and petrochemical industries.
The Honeywell Middle East headquarters in Abu Dhabi opened in 1993, and houses more than 90 industry experts with regional offices in Saudi Arabia, Kuwait, Qatar, Oman, Egypt and Bahrain. Honeywell has a workforce of over 400 in the region. Honeywell’s customers in the Middle East include Saudi Aramco, Adnoc, Zadco, Adgas, Gasco, Adco, KJO, Sabic, Alba, KOC, KNPC, Equate, SEC, QP, Qafco, Qapco, Q-Chem, QVC, PDO, Dolphin Energy Project, GPIC, Dubai Civil Aviation, The Al Habtoor Group, Emirates Trading Agency, GECO, Trans Gulf amongst others.
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Honeywell International is a $28 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Process Solutions is part of Honeywell’s Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywell.com/ps.
