Honeywell To Train Next Generation Of Refinery Technicians In Vietnam Nghi Son Refinery Will be Country's Largest Refinery PR Newswire HANOI, Vietnam, June 19, 2014 HANOI, Vietnam, June 19, 2014 /PRNewswire/ -- Honeywell (NYSE: HON) Process Solutions announced today that it would train technical personnel at Nghi Son Refinery and Petrochemical Limited Liability Company's (NSRP) new 200,000 barrel-per-day complex being built in Thanh Hoa Province, Vietnam. Honeywell will be responsible for helping to prepare the workforce for the refinery's 2017 start-up as well as the ongoing operational and business readiness of the facility. Nghi Son Refinery will be the country's second, and largest, refinery and will meet about 30 percent of Vietnam's growing demand for refined petroleum products, such as motor fuel and petrochemicals. Vietnam is a net exporter of crude oil, producing more than 350,000 barrels per day of crude oil. But with limited refining capacity, the country currently imports more than half of its refined products to meet demand. "This refinery will be an important part of Vietnam's energy picture, enabling us to turn our own vast oil reserves into finished products," said Kazutoshi Shimmura, general director of NSRP. On projects such as the NSRP refinery, Honeywell is able to implement a standardized training strategy, which includes a targeted, cost-effective program that addresses gaps in experience and competency of the recruited workforce. Honeywell's in-country experience also enables it to identify and empower local educational institutions to provide a large share of training deliverables. "The training partnership between Honeywell and NSRP will help to enable the refinery workforce to become more productive faster, increasing value and safety to NSRP's operations," said John Rudolph, vice president of Honeywell Process Solutions. Industrial organizations can also leverage Honeywell's training management services to integrate best-in-class instruction provided by industry experts for advanced-level training. This approach blends classroom instruction, including eLearning, with simulation, hands-on experience and on-the-job components. The program also measures each employee's progress and provides remedial intervention for those needing additional help. In addition, Honeywell's comprehensive project management solution allows execution of training programs on time and on budget. It further increases overall training retention, which will translate to faster, incident-free startups. The Nghi Son Refinery project is a joint venture of Vietnam Oil and Gas Group (PVN), Kuwait Petroleum Europe BV (KPE), Idemitsu Kosan Co., Ltd (IKC) and Mitsui Chemicals, Inc (MCI). In its role as training management consultant for the new facility, Honeywell will work with the NSRP human resources department to help train all operations, maintenance and quality assurance personnel before and after the facility's start-up. This ranges from helping with recruitment and screening, to supporting the functions necessary to achieve a competent workforce. Honeywell will also leverage local resources, educational institutions and in-country refining capabilities, thus reducing cost to NSRP as well as increasing the local facilities' capabilities to support future initiatives. Honeywell has had a presence in Vietnam for the past 10 years, and in 2012, it partnered with PetroVietnam University to establish a regional Automation College in Hanoi. The goal of this partnership is to enhance the technical skills of the local engineering community in the application of plant automation and process control technologies, as well as build and sustain a strong future talent pool to support the projected process industry growth in Vietnam and South East Asia. For more information, please visit www.honeywellprocess.com. Honeywell Process Solutions (www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes UOP, a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. 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. 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Honeywell To Train Next Generation Of Refinery Technicians In Vietnam
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