Tyco says it will boost investment despite slowdown

Despite intense competition, fire protection and security leader Tyco remains optimistic about the industry and will strengthen its investment in China's more promising second- and third-tier cities, according to the company.

Last year, Tyco underlined the strategic importance of China in its global business focus when the company moved its Asia headquarters to Shanghai from Singapore.

Benny H Goh, Tyco's new president for Asia's installation and services arm, told reporters that even with China's economic slowdown, in which GDP above 9 percent dropped to about 7.5 percent currently, a vast potential market remains for increasingly sophisticated fire protection and security technologies and services.

"Our promise is to offer highly customized products and solutions and innovative technology and services to customers in China to meet the demands in the country's fire and security industry," Goh said.

He said the company would continue to invest and enhance the capability of its world-class Asia R&D facility in Shanghai to deliver technology designed to meet local market requirements.

The R&D center of Tyco now has more than 100 engineers, of whom more than 80 percent are local Chinese, according to the company.

With increasing government investment in improving local infrastructure, including new metro lines, new buses and new airports in some lower-tier cities in China, Tyco said it provides customized solutions for bigger market shares.

It also focuses on developing integrated solutions to meet the unique needs of key vertical markets such as retail, marine, transportation and oil and gas.