Honeywell to ride on PHL’s ‘Build, Build, Build’ for growth

Honeywell Philippines president Jeffrey Estrella during a media roundtable in Taguig City on Thursday, 18 July 2019. Ted Cordero, GMA News

Diversified technology and industrial firm Honeywell International Philippines Inc. said Thursday it is looking at how it can expand its presence in the country by riding on the Duterte administration’s “Build, Build, Build” infrastructure initiative.

“We want to be part of it. The current push of our government is on transport and Honeywell has quite a number of solutions particularly in rail and airports so we would like to make these solutions available as on option when these projects actually start construction,” Honeywell Philippines president Jeffrey Estrella said in a media roundtable in Taguig City.

The Duterte administration aims to spend more than P8.2 trillion over the next five years on ports, airports, roads, railways, energy facilities, irrigation systems, and flood control facilities. 

In terms of revenue growth, Estrella said Honeywell is expecting to grow “two to three times the country’s GDP growth.”

As of the first quarter of 2019, the Philippine economy as measured by GDP grew by 5.6%, slower than 6.5% year-on-year and the 6.3% in the fourth quarter 2018. 

“Key drivers are businesses that we wanted to explore such as new opportunities in the digital space, infrastructure, growth in air travel, construction ... These types of investments will be the key drivers for Honeywell,” Estrella noted.

New Jersey,USA-based Honeywell is a Fortune 500 technology company that delivers industry specific solutions, including aerospace products and services, control technologies for buildings and industry, and performance materials. —VDS, GMA News