SHENZHEN, China, Nov. 16 /PRNewswire-Asia/ -- Honeywell Intellectual Property International (HIPI), the licensing division of Honeywell (NYSE: HON), today signed a memorandum of understanding (MOU) with the Guangdong Science and Technology Commission for technology innovation cooperation and a strategic business cooperation agreement with the Shanghai Guangdian Electric Group (SGEG). The agreements were signed at the 11th China Hi-Tech Fair which is being held at the Shenzhen Convention and Exhibition Center.
"These agreements underscore Honeywell's dedication and sincerity in building cooperative relationships in China using the broad spectrum of technologies we have developed," said Mary Newell-Miller, Vice President of Licensing at Honeywell Intellectual Property International. "We want to address technology challenges relevant to China that will further enhance and build China's economy. Mega trends such as energy efficiency and environmental protection are important issues in China and areas where Honeywell has a leadership position. We look forward to exploring how our technologies can be licensed in China to help solve these issues and fast-track Chinese enterprises on the innovation path."
The MOU between Honeywell and the Guangdong Science and Technology Commission aims to establish a bilateral partnership between the two parties and to strengthen international cooperation in science and technology that will enhance scientific, technological and economic developments.
"The MOU is just the first step. We look forward to realizing joint projects and initiatives that will mutually benefit both parties and especially help enterprises in the Guangdong province achieve sustainable economic development," said Chen Xin, Deputy Director, Guangdong Science and Technology Commission.
The cooperation agreement with SGEG grants them the right to use Honeywell's brand for medium voltage drives and active power filter products which are used to improve power quality. Through this agreement, SGEG will launch a series of new energy efficient products to be sold through China's Industrial markets. The two companies are currently exploring other areas to collaborate which include new products and new market areas. SGEG, a company with US$265 million in revenues in 2008, manufactures and supplies electrical products to China and international markets.
"Since 2004, SGEG has made several strategic acquisitions to develop new technology platforms in power electronics aimed to strengthen our business in the energy efficiency portfolio. This agreement with Honeywell will enable us to launch new energy efficiency MV Drives and APF products in 2010 with additional product development plan with Honeywell through 2014," said Dan Yan, Chairman and CEO of SGEG.
HIPI is also hosting its Honeywell Technology Licensing Day on November 18 in conjunction of the 11th China Hi-tech Fair at the Shenzhen Convention and Exhibition Center. HIPI will be presenting a range of diverse technologies in the areas of energy efficiency, environmental protection, medical diagnostics, specialty materials, electronics, and manufacturing systems software that are available for licensing to Chinese enterprises.
Among the Honeywell technologies being showcased include battery management for electric vehicles, water treatment and monitoring technologies for environmental protection, nitrogen oxide (NOx) and sulfur oxide (SOx) removal techniques to treat air pollutants, real-time DNA microarray diagnostics for fast infectious disease diagnosis, and manufacturing systems software to enable optimal decision making.
HIPI, the Honeywell licensing division, is responsible for managing the commercialization of Honeywell's intellectual property assets, including patents, trademarks, copyrights, and technology. HIPI is also dedicated to building cooperative relationships with companies through technology transfer to help companies commercialize their products on the international market, hence enhancing their technology and market competency in the long-term. Honeywell has more than 1,400 active license agreements with hundreds of licensees worldwide.
Honeywell International ( http://www.honeywell.com ) is a Fortune 100 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, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit http://www.honeywellnow.com .
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