Honeywell (NYSE: HON) and China’s Haier Group on Friday announced the signing of a memorandum of understanding (MOU) for global strategic cooperation on the development and promotion of energy-efficiency products and solutions.
Haier is considered the number one brand of Major Appliances in the world and China’s most valuable brand.
The MOU was signed during the U.S.-China Trade and Economic Cooperation Forum.
Under terms of the MOU, Honeywell and Haier will work collaboratively on new technology that will make household appliances, intelligent home systems, residential heating, building automation, and mass transit more efficient and cleaner.
"More than 50% of our product portfolio is related to energy and energy efficiency," said Shane Tedjarati, president and CEO of Honeywell China and India. "We believe we can apply our expertise in energy-efficiency, intelligent buildings systems, and automation and controls to help Haier manufacture products that will benefit both their customers and the environment."
Shariff Kan, president of Haier America, said, "Haier Group is actively promoting a globalization strategy for its products and comprehensive solutions. In addition to household appliances, Haier will develop high-performance and energy-efficient solutions in home furnishings, building automation, security systems, mass transit and other areas."
One area of collaboration will be the use of energy-efficient, closed-cell foam insulation featuring Honeywell’s non-ozone depleting Enovate® blowing agent for Haier appliances. Use of this insulation will help ensure that Haier’s household appliances conform to the standards of the U.S. Department of Energy’s Energy Star program. It will also meet China’s Ministry of Environmental Protection requirements for phasing out the use of ozone-depleting blowing agents by 2015.
The companies also plan to jointly develop air conditioners, refrigerators and solar-power water heater solutions based on Honeywell’s low-global-warming-potential refrigerants and blowing agents.
Additionally, Honeywell Technology Solutions China will cooperate with Haier’s research and development organization on Haier’s intelligent home program.
Haier has 29 manufacturing bases; eight general research and development centres and 19 overseas trading companies worldwide, employing over 60,000 workers.
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