Tuesday, March 22, 2011

Honeywell May Invest $285 Million in Romania, Financiar Reports

Honeywell International Inc. (HON), the world’s largest maker of turbochargers, plans to invest between 100 million euros ($142 million) and 200 million euros in Romania, newspaper Ziarul Financiar said today, citing unidentified people familiar with the matter.

Honeywell wants to apply for state aid from the Romanian government to help co-finance the planned project, Bucharest- based Ziarul Financiar reported after the U.S. company’s Chief Executive Officer David Cote met with Prime Minister Emil Boc in the Romanian capital late yesterday.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez in Prague atjagomez@bloomberg.net

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