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Technology firm Honeywell on Wednesday announced setting up of a new segment under brand name Impact which will sell low-cost solutions to small and medium enterprises (SMEs) in small towns and cities.
Honeywell India President Akshay Bellare said the new brand is expected to contribute over 10 per cent of overall revenue of Honeywell India in the next two years. We have an aspiration of this business going to be a very significant part of our overall Honeywell India business. In the next couple of years I am looking at 10 per cent or higher revenues coming from this business initiative. I see it even going beyond this. I expect it to be substantially higher than that (10 per cent) in the next five years, Bellare said while unveiling the new brand.