An indigenous technology of
Honeywell International Inc.
) wholly-owned subsidiary UOP LLC was selected by Taiyo Oil Co.
Ltd to improve operational flexibility and augment the production
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Japanese-based energy company Taiyo will utilize UOP Tatoray
process technology for its Shikoku Operations in Ehime, Japan.
The technology will be used to improve yields of petrochemical
products by over 70%, thereby increasing plant flexibility to
shift production between petrochemicals or gasoline according to
changes in demand. In addition, by increasing mixed xylene
production from a given naphtha feedstock, the process
significantly reduces the overall cost of production, making it
one of the most economical techniques available in the
With the UOP Tatoray process technology, the plant is expected to
produce 300,000 metric tons of mixed xylene and high-purity
benzene each year, starting production in 2014. Honeywell's UOP
has been associated with Taiyo for nearly 30 years, providing
almost all process units for its Shikoku Operations. Thus, the
current tie-up further reinforces their business relationship.
Headquartered in Des Plaines, Ill., 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 part of
Honeywell's Performance Materials and Technologies strategic
Based in Morris Township, N.J., 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 transportation.
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 enables it to earn consistent above-average returns.
Honeywell has a Zacks Rank #2 (Buy). Other players in the
industry worth mentioning include
United Technologies Corp.
), each carrying a Zacks Rank #2 (Buy).