Diversified technology company
Honeywell International Inc.
) recently announced that the indigenous technology of its
wholly-owned subsidiary UOP LLC was selected to produce
petrochemical products in Brunei, a sovereign state in Southeast
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The technology will be utilized by Brunei Hengyi Industries Sdn
Bhd, a subsidiary of Zhejiang Hengyi Group Co. -- one of the
largest suppliers of textile raw materials in China, to produce
aromatics in a cost-effective way by maximizing product yields
while reducing production and investment costs. Aromatics are the
key ingredients for the production of polymers, plastics, resins
and synthetic fibers such as polyester and nylon.
The project is anticipated to be one of the largest aromatics
manufacturing facility in the world and is expected to meet the
increasing demand of plastics and synthetic fibers in the region.
In addition to its UOP technology, Honeywell will also provide
the requisite training and technical services along with
catalysts, adsorbents, and specialty equipment for the project.
Production at the facility is slated to commence from 2015.
Headquartered in Des Plaines, IL, UOP is a premier supplier of
process technology, catalysts, adsorbents, process plants and
consulting services to the petroleum refining, petrochemical and
gas processing industries across the globe. It is a part of
Honeywell's Performance Materials and Technologies strategic
Based in Morris Township, NJ, Honeywell manufactures a wide range
of aerospace products and services, control, sensing and security
technologies for buildings, homes and industry, turbochargers,
automotive products, specialty chemicals, electronic and advanced
materials, process technology for refining and petrochemicals and
energy efficient products and solutions for homes, business and
Honeywell organizes its business into four operating segments -
Aerospace, Automation and Control Solutions, Performance
Materials and Technologies, and Transportation Systems.
Honeywell's diversified business portfolio mitigates operating
risks and has the potential to earn consistent above-average
However, Honeywell faces intense competition from industry
bigwigs such as
), each carrying a Zacks Rank #2 (Buy). Presently, Honeywell also
has a Zacks Rank #2 (Buy).
(We are reissuing this article to correct a mistake. The
original article, issued yesterday, April 3, 2013, should no
longer be relied upon.)