Honeywell To Modernize Petrochemical Plants In China

Advanced Process Control and Optimization Technologies to Increase Profitability at Sinopec Plants

News provided by

Nov 14, 2013, 09:00 ET

SHANGHAI, Nov. 14, 2013 /PRNewswire/ -- Honeywell (NYSE:HON) today announced that it was selected by the Sinopec Maoming Company for business management and automation technology that will rejuvenate and improve operational performance at aging petrochemical plants in Guangdong Province, China.

Honeywell's Profit Suite R400 process optimization software will be deployed at two of Maoming Company's ethylene-cracking facilities, helping to improve plant performance by increasing energy efficiency, improving flexibility of its operations, and maximizing the plants' yield of high-value products. The plants have been in operation for more than 50 years and currently produce 1 million tons of petrochemicals a year.

"Although new petrochemical plants are being built, globally the petrochemical industry is a mature industry, with many plants having been in operation for decades," said Aldous Wong, vice president and general manager for Honeywell Process Solutions, China. "Honeywell's process optimization solutions can breathe new life into these aging plants, boosting profitability by increasing throughput and yields, improving product quality, and reducing costs."

Ethylene is an important building block for petrochemicals and is primarily used in the manufacture of polyethylene, which, in turn, goes into a wide range of products, such as packaging, detergents, synthetic lubricants and synthetic rubber. In China, about 70 percent of its polyethylene is used in product packaging.

"We want to establish this project as a benchmark for other similar facilities within the Sinopec Group," said He Lijian, deputy chief engineer, Sinopec Maoming Company. "Using this Honeywell solution, Maoming Company is expecting an increase in production that would improve our profitability by more than $6 million per year. Honeywell's experience in advanced process control and support capabilities for a number of industrial projects in China helped us to decide to choose them as one of our trusted vendors."

Profit Suite R400 is the most comprehensive release of Honeywell's Advanced Process Control (APC) and Optimization technology portfolio, with the ability to integrate with many different distributed control systems (DCS) by multiple manufacturers, as well as legacy systems.

With an installed base of more than 30,000 control systems, Honeywell technology runs mission-critical applications in refineries, chemical plants, pulp and paper mills, pipelines, power plants and other industrial facilities worldwide.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry.For more information about Process Solutions, access www.honeywellprocess.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE Honeywell