Honeywell Opens New Technology Center in India

Facility expands technology development capabilities for refining, petrochemical, low-global-warming and nylon technologies and applications

News provided by

Honeywell

Feb 14, 2012, 02:30 ET

GURGAON, India, Feb. 14, 2012 /PRNewswire/ -- Honeywell (NYSE: HON) announced today the opening of a new technology center in India, further expanding its technology development capabilities in key areas including refining, petrochemical, low-global-warming and nylon technologies and applications.

The facility in Gurgaon, India, features pilot plants for developing and demonstrating refining and petrochemical process technology by UOP, part of Honeywell's Performance Materials and Technologies (PMT) strategic business group. The center will also perform other product and application development for PMT, including fluorine and nylon technologies. Honeywell invested $34 million in the 8,830-square-meter (95,000-square-foot) center.

"This new facility will allow Honeywell to put its vast resources to work in collaboration with some of the brightest engineering minds in India," said Rajeev Gautam, president and CEO of Honeywell´s UOP, who officially opened the center at a ceremony attended by Shri Jaipal Reddy, India's Minister of Petroleum & Natural Gas, and other dignitaries. "It brings the development of key technologies closer to our customers in the region and complements our other technology centers around the world."

The Honeywell India Technology Center will primarily support Honeywell UOP's work in developing and licensing process technologies used in refining and the production of petrochemicals and renewable fuels. UOP is a recognized leader in refining, petrochemical and biofuel process technology.

Additionally, the facility will support PMT's efforts to develop new low-global-warming refrigerants, blowing agents and other materials. Engineers at the technology center will also conduct research and customer-specific engineering work in caprolactam, a key material used in nylon production, and nylon resin.

"Honeywell is an industry leader when it comes to investing in research and development," said Mark Turowicz, managing director of Honeywell Performance Materials and Technologies India. "This center adds to India's growing strength as a global knowledge hub, allowing some of the best engineering minds to produce breakthrough technologies to be used in India and beyond."

The center will initially employ 40 researchers, with the total expected to grow to 170 in the next five years. The new technology center is Honeywell's fourth in India.

Honeywell has rapidly expanded its footprint in India, with five manufacturing locations, 10 key offices and sales presence in more than 50 cities. Honeywell's employee base in India has grown from 1,000 employees in 2002 to more than 12,500 today.

Honeywell Performance Materials and Technologies is a global leader in developing and manufacturing advanced materials and process technologies. These materials and technologies are used by people every day in a wide range of industries and applications, from petroleum refining to environmentally friendlier refrigerants to bullet-resistant vests. Our advanced materials are critical in the manufacture of products ranging from nylon to computer chips to pharmaceutical packaging. Process technologies developed by our UOP business form the foundation for most of the world's refiners, efficiently producing gasoline, diesel, jet fuel and petrochemicals. UOP is now pioneering technology to produce real fuels from renewable energy sources.

Honeywell International (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; automotive products; turbochargers; and specialty 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.

This report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. 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