Honeywell CEO arrives in Bucharest to discuss state aid
David Cote, chairman and CEO of US industrial group Honeywell, arrived in Romania yesterday to discuss with the authorities in Bucharest about state aid for an about 100 million-euro investment project, which might reach 200 million euros, market sources say.
David Cote, chairman and CEO of US industrial group Honeywell, arrived in Romania yesterday to discuss with the authorities in Bucharest about state aid for an about 100 million-euro investment project, which might reach 200 million euros, market sources say.
Cote, who runs one of the most powerful groups in the world, met with Premier Boc yesterday afternoon as arranged via diplomatic channels.Even though keeping a low profile, the Honeywell group is among the top ten Romanian exporters and already owns a factory in Bucharest and one in Lugoj. It had about 1,300 employees and over 70 million euros in cumulated business in 2009.
The sources said that even though they do have a really significant financial strength, the Americans wanted to get state aid in Romania encouraged by the precedent created by Ford in Craiova and Lufkin in Ploiești.
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