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Tyco sees innovative technology as strategy to expand in China
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TYCO, the world’s largest fire protection and security company, entered the China market in 1983. The company, with US$10 billion in revenue, operates in 20 major cities in China. Its China Technology Center was set up in Shanghai in 2008.
Chief Executive Officer George R. Oliver joined the company in July 2006. He was elected to the board of directors in 2012. He holds a bachelor’s degree in mechanical engineering from Worcester Polytechnic Institute in Massachusetts.
He sat down with Shanghai Daily recently to discuss trends in the security industry.
Q: At the end of 2013, Tyco announced its new investment plan in China. Could you comment on the progress of that and where you go from here?
A: Overall it’s gone extremely well. The new facility here is part of that investment. We have mobilized 200 of our employees into this new technology center. We are not only developing new products for the Chinese market, but also leveraging those products for other markets across the globe.
We announced we are going to spend roughly 900 million yuan (US$145 million) in China, and we are on track to do that. We have attracted very talented engineers.
Technology innovation is the core to our growth strategy. We have continued to increase our reinvestments in technology by double digits every year, and this certainly is a big part of the strategy for growth in innovation.
Q: We have recently seen many dreadful fire disasters in public places in China. How do you view this country’s need for fire protection and rescue?
A: As the industry leader, we play a very active role in developing codes and standards. We are very active across the globe with agencies and regulators in industry development. We learn from experiences we have had in other mature markets. We are both educating the local market and developing an understanding of what is required to make sure that the systems that are deployed provide the utmost life safety.
The Chinese government has a lot of regulations in place. Our experience can definitely help the Chinese government accelerate those efforts. Looking at the fire disaster in Shangri-La in Yunnan Province earlier this year, which destroyed buildings that were 1,000 years old, it is a shame that so much heritage was lost. Imagine if you had had the right detection technologies in place. This is why we want to help the country.
Q: Chemical dangers at mines and factories are obvious issues in China. Do you think Tyco’s approach to saving more lives can go beyond servicing products?
A: It is very important to understand that in every one of the domains that is required to assure life safety — whether it be water suppression, chemical suppression, electronic fire detection or gas detection — we are an industry leader. With the experience we have globally in how this technology is deployed most effectively, we assure that our technology is deployed in a way that provides the utmost life safety.
We service not only the technology we install, but 40 percent of our business is in services required for these high-hazard industries.
We are also going into the “smart city” concept. The Chinese government is really promoting that idea. It would mean protecting a city not just from a fire angle, but from a security angle as well.
Q: How has the Internet of Things business gone so far? What difference will it make in the future?
A: We launched our vision three years ago in developing our Internet of Things platform. It enables us to connect sensors and devices that enhance the type of data solution that we can provide. The best example would be the leveraging of the technology in our biggest retail markets.
Q: How do you perceive Tyco’s role in helping the public achieve better and safer living and working environments?
A: Our employees are very active in promoting life safety programs and supporting education. One of the examples here is a school where we not only provide resources, but also support. We are very focused on improving education and enhancing life safety. We support the volunteerism of our people in communities.
In Korea, we have given scholarships every year for the past 15 years to the children of firemen who have been injured or killed in fires. We would like to do this in China to show that we are a responsible company.
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