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Diversified U.S. manufacturer Honeywell International Inc. (HON) will invest $80 million to set up a research centre in China that will also serve as its Asian base of operations, the company said on Thursday.

Honeywell, which has invested about $500 million on 29 plants and ventures in China, said last year it expected sales in the country to leap two-thirds to $1.0 billion in 2005, as it expanded in a low-cost but high-growth market.

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh43241_2004-11-18_00-44-01_sha353267_newsml
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