Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Honeywell's UOP Selected To Provide Technology For Petrochemical Production In China



Honeywell's UOP Selected To Provide Technology For Petrochemical Production In
                                    China

Propylene-production technology will be used to meet the growing demand for
propylene in China; 12th UOP Oleflex™ project win

PR Newswire

DES PLAINES, Ill., March 19, 2013

DES PLAINES, Ill., March 19, 2013 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE:
HON) company, announced today it has been selected to provide technology to
produce propylene in China.

Fujian Meide Petrochemical Co. Ltd. will use Honeywell's UOP C[3 ]Oleflex™
process technology to convert propane to propylene, a key ingredient in the
production of materials such as films and packaging. It is the 12^th Oleflex
project Honeywell's UOP has announced since the beginning of 2011, and the
company's second project with Fujian Meide.

"UOP's Oleflex technology has been used extensively in China due to the
region's accelerated propylene demand," said Pete Piotrowski, senior vice
president and general manager of Honeywell's UOP Process Technology and
Equipment business unit. "To date, UOP's combined Oleflex projects will help
increase propylene production by more than 5 million metric tons globally in
the next three years. We are pleased UOP's technology is at the forefront of
helping meet demand for this vital resource, and we look forward to working
with Fujian Meide on another project."

China's propylene consumption accounts for more than 15 percent of worldwide
demand, and it is growing at about 5 to 6 percent per year, according to
market projections.

In 2011, Honeywell's UOP licensed its C[3 ]Oleflex process technology to
Fujian Meide to produce 660,000 metric tons of propylene annually. The new
unit, expected to start up in 2015, will produce the same annual quantity.

In addition to technology licensing, Honeywell's UOP will provide engineering
design, catalysts, adsorbents, equipment, staff training and technical service
for the project at Fujian Meide's facility in Fuzhou City, Fujian Province,
China.

The UOP C[3] Oleflex process uses propane dehydrogenation (PDH) to convert
propane to propylene. Compared with competing PDH processes, Oleflex
technology provides the lowest cash cost of production, the highest return on
investment and the smallest environmental footprint. The superior performance
of Honeywell's UOP technology stems from its low capital costs, low energy
use, high propylene yield and reliability, and maximum operating flexibility.

Since the Oleflex technology was commercialized in 1990, Honeywell's UOP has
commissioned nine C[3] Oleflex units for on-purpose propylene production and
six C[4] Oleflex units for on-purpose isobutylene production.

Since 2011, Honeywell's UOP has announced 11 new Oleflex units across China,
Abu Dhabi and North America, including China's first combined C[3]/C[4]
Oleflex unit and the first two C[4] Oleflex units.

Fujian Meide Petrochemical Co. Ltd. is a fully owned subsidiary of China
Packing Group Company Ltd., which is headquartered in Fuzhou City, Fujian
Province, China.

UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading
international supplier and licensor of process technology, catalysts,
adsorbents, process plants, and consulting services to the petroleum refining,
petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary
of Honeywell International Inc. and is part of Honeywell's Performance
Materials and Technologies strategic business group. For more information, go
to www.uop.com.

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.uop.com
Contact: Krystal Hughes, +1-847-391-3561, Krystal.Hughes@honeywell.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement