Honeywell Process Solutions, a part of
Honeywell International Inc
), recently announced the launch of the Lean Execution of
Automation Projects (LEAP) services to help manufacturers in the
processing industries improvise their industrial facilities and
ensure efficient functioning.
Honeywell enhances its project implementation services with three
innovative and enabling technologies - Virtualization, Universal
Channel Technology and Cloud Engineering. The use of virtual
machines in the control system removes dependency between the
functional and physical design. Also, engineering in a secure,
cloud environment facilitates project execution and testing
anywhere across the globe, leading to travel savings.
LEAP gives users greater scheduling flexibility and minimizes the
risk involved in the project with Honeywell's propriety hardware
and software services. Additionally, it removes workflow
dependencies and enables core project tasks to start much earlier
than expected in the process.
Automation projects require efficient management as they become
large and complex. LEAP simplifies project execution and helps
plants to run efficiently on time, which result in significant cost
savings. Going forward, it is expected that LEAP is likely to
result in 30% capital savings on the total installed automation
costs of a project. The benefits of these project services move
beyond automation and multiple industries are likely to cut costs
by 80% related to unnecessary rework. The advanced services are
likely to reduce avoidable schedule delays by up to 90%.
Honeywell is a global diversified technology and manufacturing
company with a wide range of products and services. These include
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 as well as energy efficient products and
solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks
that look promising and are worth a look now include
Icahn Enterprises, L.P
Noble Group Limited
), each carrying a Zacks Rank #1 (Strong Buy)
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