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RESIDEO TECHNOLOGIES, INC.

(REZI)
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Resideo Technologies : New Leading-Edge Technical Center Will Play Key Role In Driving Hydrogen Strategy

09/03/2021 | 01:02pm EDT

Rolle, Switzerland 02 September 2021 - Resideo Technologies Inc. (NYSE: REZI), a global provider of home comfort and security solutions, today announced that it has opened its new leading-edge technical center in Lotte, Germany. The center will play a key part in delivering the company's plan for greener technology, particularly hydrogen.

The new technical center is home to existing Lotte-based employees who specialise in the measuring and testing of safety devices for global boiler and water heater manufacturers. It houses 27 different test stations for a range of products and appliances. For example, the boiler test stations can test eight different types of gases used globally.

The opening of the center marks the completion of around 15 months of construction work, which started in February last year with the traditional Spatenstich ceremony. This involved Resideo's EMEA managing director and members of the Lotte team being joined by the local architects and construction company to throw the first shovel of sand together.

Mario Moura, Products & Solutions managing director EMEA, said: 'I am delighted that we have opened our new technical center in Lotte. The investment we are making is a key part of how we deliver on our plans for greener technologies, particularly hydrogen.'

'Over the past few months we have been talking extensively to our customers to further develop our hydrogen roadmap, and I'm excited for what we can achieve in the future with the support of our research and development colleagues in our new technical center in Lotte.'

Ryan Strassburg, VP Global Product Management, OEM & Partner Solutions, added: ' This investment is a great example of our global customer-first mindset. Our new technical center will play a key role in our product portfolio development, not only for our EMEA customers but for our customers across the world.'

Christian Engelmeyer, Lotte software development team leader, concluded: 'Our employees have all now moved into their new building, and our research and development activities in the new center have started. I'd like to say a huge thanks to the Lotte team and our local partners: Arcadis (project management), BauWerkStadt (architects and planners), and Arning (construction) for all their efforts.'

Disclaimer

Resideo Technologies Inc. published this content on 03 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 September 2021 17:01:11 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 5 914 M - -
Net income 2021 253 M - -
Net Debt 2021 389 M - -
P/E ratio 2021 15,0x
Yield 2021 -
Capitalization 3 631 M 3 631 M -
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EV / Sales 2022 0,60x
Nbr of Employees 14 700
Free-Float 98,6%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 25,18 $
Average target price 37,50 $
Spread / Average Target 48,9%
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Managers and Directors
Jay L. Geldmacher President, Chief Executive Officer & Director
Anthony L. Trunzo Chief Financial Officer & Executive Vice President
Jeannine J. Lane Secretary, Chief Compliance Officer & EVP
Jack Lazar Independent Director
Nina L. Richardson Independent Director
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