UOP LLC, a subsidiary of
Honeywell International Inc
), recently announced that China's Wison (Nanjing) Clean Energy Co.
Ltd, a subsidiary of the Wison Group, has produced healthy olefin
yields by leveraging its licensed Methanol-to-Olefins (MTO)
technology. This technology enables production of high-value
petrochemicals from feedstocks derived from coal or natural gas
instead of petroleum.
The MTO process technology is flexible and enables plan
operators to address the market demand in an effective manner. The
technology is well suited for the petrochemical producers in China,
facilitating cheaper coal access for higher yields at reduced
The Wison facility has an annual production capacity of 300,000
metric tons of ethylene and propylene annually. Utilizing this MTO
technology since Sep 2013, it has produced more than 360 million
pounds of light olefins at a plant in Nanjing, China.
Since 2011, UOP has announced four licenses for MTO technology
in China. Shandong Yangmei Hengtong Chemicals Co. Ltd, a
subsidiary of Shanxi Yangquan Coal Industry (Group) Co. Ltd, will
use MTO technology to produce 295,000 metric tons of ethylene and
propylene annually once it starts its operations this year. Also,
Jiutai Energy (Zhungeer) Co, a subsidiary of Jiutai Energy Group,
will use it to produce 600,000 metric tons of ethylene and
propylene annually from 2015. Additionally, Jiangsu Sailboat
Petrochemical Chemicals, a subsidiary of Shenghong Group is
expected to produce 833,000 metric tons of ethylene and propylene
annually. We remain encouraged by Honeywell's continuous efforts to
launch new products and technologies and expand its business in
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
Carlisle Companies Incorporated
Noble Group Limited
), each carrying a Zacks Rank #2 (Buy).
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