May 22, 2012, Guangxi Yuchai Machinery Co., Ltd., Yan Ping to Morristown, NJ, Honeywell (Honeywell) corporate headquarters, visiting its Chairman and CEO Dave Cote (DavidCote) Mr. The two sides discussed the current economic situation in China and its future direction. They reviewed the problems that existed in the cooperation between the two sides and actively sought solutions. At the same time, both parties also actively worked to promote comprehensive cooperation at the group level. Mr. David Paja, Vice President and General Manager of Honeywell Transportation Systems China and India, Lin Zhiqiang, chief engineer of Yuchai Corporation, and Han Yiyong, secretary of the board of directors, accompanied him.

Honeywell is a diversified, high-tech and advanced manufacturing company that is one of the world's top 100 wealth companies. Globally, Honeywell's business involves aviation products and services, building, home and industrial control technologies, turbochargers and specialty materials. Currently, Honeywell’s four major business groups have settled in China, with multiple branches and joint ventures in 20 cities in China. As the world's leading developer of automotive turbochargers, Honeywell has been working with Yuchai Machinery Co., Ltd., China's leading diesel engine manufacturer, for more than 10 years, and is the first supplier to Yuchai Corporation. The supplier of engine booster systems. In September 2011, Honeywell's Turbocharged Technology Division and Yuchai Joint Stock Company signed a long-term new strategic cooperation agreement. Both parties reached consensus on further deeper and broader cooperation. The resolution passed their respective technical expertise. Quality advantages and market experience have established a long-term and mutually beneficial cooperation relationship, which will promote the sustainable and steady development of both parties in the future. Yuchai will use Honeywell's top turbocharger technology to develop high-performance diesel engines to enhance the core competitiveness of Yuchai products in terms of performance and cost. As an important strategic business partner, the two sides are very optimistic about the prospect of mutually beneficial cooperation.

It is reported that Mr. Goldwell was elected as Honeywell’s global president, chief executive officer and member of the board of directors in February 2002, and was subsequently elected chairman in July 2002.

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