Honeywell Responds To European Commission Statement Of Objections

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Oct 21, 2014, 12:19 ET

MORRIS TOWNSHIP, N.J., Oct. 21, 2014 /PRNewswire/ -- The allegations outlined in the Statement of Objections are baseless and conflict with the EU's own laws that encourage collaboration on development. Honeywell is confident that our practices are consistent with the law and that the Commission will conclude that we acted in full compliance with European Union competition rules.

By collaborating on expensive and risky development, Honeywell and DuPont were able to develop HFO-1234yf in time to meet the MAC Directive's 2017 deadline. Thanks to that swift development, HFO-1234yf is currently being used in nearly 2 million cars around the world, reducing the global warming potential of those cars' air conditioning systems by more than 99.9%. Honeywell's and DuPont's work also ensured a competitive market for HFO-1234yf. Honeywell and DuPont are marketing HFO-1234yf independently and in direct competition with one another.

Honeywell invested in HFO-1234yf at great risk because there was no guarantee of commercial success. The MAC Directive and far-sighted legislation like it have encouraged Honeywell and other companies to make the investments required to develop new products with far-reaching environmental benefits.

Honeywell has a long history of research and development investment that has brought safe, environmentally-preferable refrigerants to market. Honeywell pioneered the development of non-ozone-depleting refrigerants and is leading the way in developing the next generation of solutions that dramatically lower global warming potential compared with the products widely used today.

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SOURCE Honeywell