Honeywell Partners With Japanese Manufacturer To Further Increase Supply For New, Environmentally Preferable Automobile

 Honeywell Partners With Japanese Manufacturer To Further Increase Supply For
            New, Environmentally Preferable Automobile Refrigerant

Asahi Glass will produce HFO-1234yf for Honeywell to meet increased demand for
the refrigerant

PR Newswire

MORRIS TOWNSHIP, N.J., Jan. 23, 2014

MORRIS TOWNSHIP, N.J., Jan. 23, 2014 /PRNewswire/ --Honeywell (NYSE: HON)
announced today that it has entered into a supply agreement with Asahi Glass
Company Ltd. (AGC) to increase production for HFO-1234yf, a new refrigerant
for automobiles with a global warming potential (GWP) of less than 1. This GWP
is 99.9 percent lower than that of the current refrigerant in use, HFC-134a,
and even lower than the GWP of carbon dioxide.

AGC will manufacture HFO-1234yf in Japan, and Honeywell will market the
product to customers in the U.S, Europe and Asia. Under the agreement, AGC's
production is expected to begin in mid-2015.

"Honeywell's supply agreement with AGC will help us meet immediate demand for
HFO-1234yf, which is steadily increasing in response to concerns about
greenhouse gas emissions and the need to comply with regulations," said Ken
Gayer, vice president and general manager of Honeywell Fluorine Products. "We
continue to work with our customers to anticipate long-term demand, which will
be met by a new high-volume manufacturing plant we will build in Geismar,
Louisiana. Manufacturing locations in both the U.S. and Asia will provide
automotive customers with improved supply chain reliability and security."

Last month, Honeywell announced that the company and its suppliers would
invest about $300 million to increase capacity for HFO-1234yf, including
building a new manufacturing plant for the refrigerant at Honeywell's existing
Geismar location. The plant will use new process technology and is expected to
be fully operational in 2016. The exact size of the plant will depend on
supply agreements that Honeywell is putting in place with major customers.

HFO-1234yf is being implemented by automakers in part to meet the EU MAC
Directive, a landmark piece of legislation that aims to reduce greenhouse gas
emissions of air-conditioning systems in passenger cars and light commercial
vehicles. The directive requires that refrigerants in all new vehicle types
sold in Europe after Jan. 1, 2013, have a global-warming potential (GWP) below
150.

GWP is a relative measure of how much heat a greenhouse gas traps in the
atmosphere, with carbon dioxide setting the comparison with a GWP of 1.
HFO-1234yf offers a GWP that is less than 1, giving it even less of an
environmental impact than carbon dioxide. (See "Comparison of Greenhouse
Impact" table below.)

All cars sold in Europe after 2017 must meet the new GWP requirement of less
than 150. HFO-1234yf, with a GWP below 1, not only meets this requirement but
is more than 99 percent below the new, stricter regulation.

Automakers in the U.S. are also adopting HFO-1234yf to help comply with
Corporate Average Fuel Economy (CAFE) and vehicle greenhouse gas standards,
which aim to improve the average fuel economy and reduce greenhouse gas
emissions associated with cars and light trucks. Because HFO-1234yf has an
extremely low environmental impact (a GWP of less than 1 compared with a GWP
of 1,300 for the current refrigerant, HFC-134a), the U.S. Environmental
Protection Agency (EPA) allows automakers to receive credits for using
HFO-1234yf. 

Nearly half a million cars are on the road today safely using HFO-1234yf, and
by the end of 2014, the number of vehicles is expected to exceed 2 million.
Third-party data shows that HFO-1234yf's widespread adoption globally would
have the greenhouse gas equivalent of permanently removing more than 30
million cars from the road worldwide, or about 3 percent of the total global
fleet.

HFO-1234yf has the proven ability to perform as an effective automotive
refrigerant in all regions of the world, and Honeywell continues to develop a
global infrastructure to support its global customer base.

For more information on HFO-1234yf, please visit www.1234facts.com.

Comparison of Greenhouse Impact: HFO-1234yf vs. HFC-134a vs. CO2

            Atmospheric      Global Warming Fuel Efficiency (compared with
Refrigerant Lifetime                        HFC-134a)
                             Potential
HFO-1234yf  10.5 days        Less than 1    Same
HFC-134a    13.4 years       1,300          Same
                                            Worse (adoption of CO2 as a
                                            refrigerant in Europe alone would
            Ranges from 5 to                result in annual consumption
CO2         200 years        1              increase of 3 billion liters of
                                            fuel at a cost of more than 4
                                            billion Euros to European car
                                            drivers)

Honeywell Performance Materials and Technologies is a global leader in
developing and manufacturing advanced materials and process technologies.
These materials and technologies are used by people every day in a wide range
of industries and applications, from petroleum refining to environmentally
friendlier refrigerants to bullet-resistant vests. Our advanced materials are
critical in the manufacture of products ranging from nylon to computer chips
to pharmaceutical packaging. Process technologies developed by our UOP
business form the foundation for most of the world's refiners, efficiently
producing gasoline, diesel, jet fuel and petrochemicals. UOP is now pioneering
technology to produce real fuels from renewable energy sources.

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 certain statements that may be deemed "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange Act
of 1934. All statements, other than statements of historical fact, that
address activities, events or developments that we or our management intends,
expects, projects, believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are based upon certain assumptions
and assessments made by our management in light of their experience and their
perception of historical trends, current economic and industry conditions,
expected future developments and other factors they believe to be appropriate.
The forward-looking statements included in this release are also subject to a
number of material risks and uncertainties, including but not limited to
economic, competitive, governmental, and technological factors affecting our
operations, markets, products, services and prices. Such forward-looking
statements are not guarantees of future performance, and actual results,
developments and business decisions may differ from those envisaged by such
forward-looking statements. 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: U.S.: Nina Krauss, 973-455-4253, nina.krauss@honeywell.com; Europe:
Martin Orsag, +4 2024 244 2279, martin.orsag@honeywell.com; Asia-Pacific:
Julia Zhu, +86 21 2894 5054, julia.zhu1@honeywell.com
 
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