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Honeywell, Massachusetts Attorney General Settle Dispute Over Water-Meter Upgrades For Quincy, Mass.



  Honeywell, Massachusetts Attorney General Settle Dispute Over Water-Meter
                          Upgrades For Quincy, Mass.

PR Newswire

MINNEAPOLIS, Jan. 15, 2013

MINNEAPOLIS, Jan. 15, 2013 /PRNewswire/ -- Honeywell (NYSE: HON) announced
today it has reached a settlement agreement with the Massachusetts Attorney
General regarding a $32.8-million energy efficiency and conservation program
launched more than five years ago with the City of Quincy, Mass.

(Logo: http://photos.prnewswire.com/prnh/20071030/AQTU029LOGO)

In 2008, Honeywell completed work on a variety of improvements designed to
save energy and operating costs for Quincy. The project was signed under
M.G.L. c. 25A, §11I (Chapter 25A) — a new state law enabling Massachusetts
municipalities to enter into long-term energy savings performance contracts.

The Attorney General's Office subsequently questioned whether the law allowed
Honeywell to include new water meters in the bundle of upgrades the company
performed, which included changes to more than 40 municipal facilities and
schools, and commercial facilities across the city.

Honeywell is one of the world's leading energy services companies, and has
completed almost 5,000 guaranteed savings projects that have helped cut
billions in energy and operational costs for organizations from cities and
school districts to hospitals and military bases.

"We believe that the Massachusetts statute does not prohibit the use of water
meters in an energy program, although we had a disagreement with the Attorney
General's office on this point, resulting in this settlement," said Tom
Hamilton, general manager of Honeywell Building Solutions.  "We feel strongly
that the energy efficiency improvements and new water meters are delivering
energy and operational savings to the city, as well as a significant boost in
revenue. The guaranteed savings would have been met if the city had proceeded
with the maintenance portion of the contract, but we agreed to settle with the
Attorney General to avoid spending more time and legal expenses on the
matter."

The settlement agreement resolves all outstanding issues between Honeywell,
the Attorney General's Office and Quincy. Honeywell will pay $4 million to the
commonwealth and agrees to notify the state of any future water meter
replacement projects that fall under the statute.

Quincy has likewise agreed that Honeywell will have no ongoing performance and
maintenance requirements. The city will be responsible for all related
equipment and expenses going forward.

The work in Quincy was the first performed under Chapter 25A. As part of the
project, Honeywell completed hundreds of upgrades to municipal facilities and
schools between 2007 and 2008. In addition, it installed more than 600 new
commercial water meters to replace aging and inaccurate meters, which were
costing the city significant revenue and undue operating costs.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and
manufacturing leader, serving customers worldwide with aerospace products and
services; control technologies for buildings, homes and industry;
turbochargers; and performance materials. Based in Morris Township, N.J.,
Honeywell's shares are traded on the New York, London, and Chicago Stock
Exchanges. For more news and information on Honeywell, please visit
www.honeywellnow.com.

This release contains "forward-looking statements" within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or developments that we or
our management intend, expect, project, believe or anticipate will or may
occur in the future are forward-looking statements. Forward-looking statements
are based on management's assumptions and assessments in light of past
experience and trends, current conditions, expected future developments and
other relevant factors. They are not guarantees of future performance, and
actual results, developments and business decisions may differ from those
envisaged by our forward-looking statements. Our forward-looking statements
are also subject to risks and uncertainties, which can affect our performance
in both the near- and long-term. We identify the principal risks and
uncertainties that affect our performance in our Form 10-K and other filings
with the Securities and Exchange Commission.

SOURCE Honeywell

Website: http://www.honeywell.com
Contact: Aaron Parker, +1-763-954-4257, aaron.parker@honeywell.com or Mark
Hamel, +1-763-954-6070, mark.hamel@honeywell.com
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