Honeywell International Inc, the U.S.-based manufacturing and technology conglomerate, has signed a memorandum of understanding on strategic cooperation with Qingdao-based consumer electronics maker Hisense Co Ltd on Monday to jointly establish a leading connected logistics network platform in the country.
The two sides will jointly establish a strategic laboratory to further explore high-performance materials applications and connected logistics solutions, including big data, internet of things, cloud computing and intelligent terminals, said Li Ning, president of Honeywell Safety and Productivity Solutions Greater China & India, during a signing ceremony held in Shanghai on Monday.
Logistics has become one of China's pillar industries and the cooperation with Hisense will help optimize China's logistics ecological system with emissions and cost reduction, Li said.
"Connectivity will represent a big portion of our growth over the next several years," he said.
According to the China Federation of Logistics & Purchasing, by 2025 the size of the smart logistics market will exceed one trillion yuan.
This is part of Honeywell's deals with Chinese customers during the first China International Import Expo. The company also vows to introduce a series of high-tech connected technologies to CIIE, including connected aircraft, connected plants, connected supply chains and connected construction, to support China's booming digital economy.
"This CIIE will offer a good opportunity for global companies to strengthen cooperation with China and bring about lots of opportunities for global companies," said Shane Tedjarati, president of Honeywell Global High Growth Regions.