Tyco to Invest USD 10 Bln in China
Shanghai Evening Post, 10/13/10
Tom Lynch, CEO of Tyco Electronics, said today that his company plans to invest USD 10 bln in China between now and 2015. Tyco's investments will go primarily towards tripling the size of its Chinese R&D team, expanding its production bases, acquiring raw materials, and expanding its sales market. By 2015, the company expects sales revenue in China to reach USD 4 bln.
The company has employed more than 400 R&D engineers since 2006, with new hires growing by 50% every year.
BYD, Huawei, and Haier are among Tyco's Chinese clients. Tyco has 16 manufacturing plants in China, employing 37,000 workers.
Keywords: Tom Lynch foreign investment hardware R&D Tyco electronics revenue forecast
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