Honeywell International Inc.
) wholly-owned subsidiary UOP LLC was recently selected by PT
Pertamina to develop a master plan to improve operational
flexibility and augment the production of petrochemicals.
Pertamina is Indonesian state-owned oil and natural gas
corporation based in Jakarta.
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UOP will prepare a "bankable feasible study" to recommend
modernization plans for five largest refineries of Pertamina.
These include refineries in Balikpapan, East Kalimantan; Cilacap,
Central Java; Dumai, Riau; Plaju, South Sumatra; and Balongan,
The feasibility study, partially funded by a $1.07 million grant
from the U.S. Trade and Development Agency, will focus on viable
methods for upgrading the refineries for processing heavier
lower-quality crude oil. At the same time, UOP will also evaluate
the viability of a centralized terminal for crude imports.
Honeywell's UOP has been associated with Pertamina since 1972,
providing various technological licenses that are currently used
in all of its refineries. Thus, the current tie-up further
reinforces their long-standing business relationship.
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 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 enables it to earn consistent above-average returns.
Honeywell has a Zacks Rank #3 (Hold). Other players in the
industry worth mentioning include
LSB Industries Inc.
), each carrying a Zacks Rank #2 (Buy).