Honeywell taps auto maintenance market

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Last updated at: (Beijing Time) Friday, December 12, 2003

Honeywell taps auto maintenance market

Auto maintenance products made by the US conglomerate Honeywell have found a shortcut to the Chinese market, by forging an alliance with China's auto maintenance chain stores.

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Auto maintenance products made by the US conglomerate Honeywell have found a shortcut to the Chinese market, by forging an alliance with China's auto maintenance chain stores.

The Consumer Product Group (CPG) of Honeywell Transportation and Power Systems has signed an agreement with Beijing North American Shine Co. Ltd, naming the latter as its exclusive agency for Prestone-brand auto maintenance products.

"We are responsible for the promotion of the Prestone brand and for marketing Prestone products in China, which include anti-freeze fluid, brake fluid and wax," said Pan Hongtao, deputy general manager of North American Shine.

Pan said North American Shine won the deal on the strength of its ambitious expansion plan.

"We intend to invest heavily in the next few years to establish a big auto maintenance and decoration chain store system," said Pan.

The Chinese company, which has two real estate developers as major shareholders, currently operates eight such stores in China.

Analysts here said that, as the number of automobiles is growing rapidly in China, foreign investors have started to tap the huge auto maintenance market here. Through the chain store system, they expect their products to enter the Chinese market smoothly.

According to official statistics, there were a total of 20 million private automobiles in use in China in 2002.

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