Diversified US manufacturer Honeywell opened a new research and development (R&D) center and Asia-Pacific headquarters in east China's Shanghai, Monday's China Daily reported.

"It is a move to consolidate our synergies in the Asia-Pacific region," Nance Dicciani, president and CEO of Specialty Materials, Honeywell, was quoted as saying.

Honeywell values two elements when locating facilities - close proximity to raw materials and customers, Dicciani said.

This new complex gathers an investment of nearly 80 million US dollars and occupies some 15,000 square meters, said Shane Tedjarati, president of Honeywell China.

Honeywell began trading in China in 1935. Over the years, Honeywell has established more than 20 joint ventures and wholly owned companies in China, along with 29 facilities and employs approximately 4,000 people in 13 Chinese cities.

Honeywell now boasts annual revenues of approximately 500 million US dollars in China. The overall sales revenue of Honeywell is expected to amount to approximately 25 billion US dollars this year, according to company sources.

In 2003, Honeywell moved its Asia-Pacific corporate headquarters to Shanghai.

After signing a supply agreement with China's Haier Group early this year for refrigeration equipment, Honeywell began the construction of a new manufacturing plant for such products last month.