Honeywell's UOP Selected to Provide Technology for Petrochemicals Production in South Korea

DES PLAINES, Ill., Jan. 10, 2012 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that it has been selected by South Korea's Kumho P&B Chemicals, Inc. to provide technology to produce key petrochemicals for the manufacture of plastics.

Honeywell's UOP Q-Max™ and UOP Phenol™ process technologies will be integrated at Kumho's Yeosu, South Korea, facility to produce high-quality phenol. According to industry consultants, the demand for materials produced using these petrochemicals is forecasted to grow in Asia by as much as 9 percent annually over the next five years, driven by demand for automobiles, appliances and electronics.

"We're pleased to continue to grow UOP's long-standing relationship with Kumho and for the opportunity to work with them on our largest cumene production unit to date," said Pete Piotrowski, senior vice president for Process Technology and Equipment at Honeywell's UOP. "As worldwide petrochemicals demand increases, Honeywell's UOP will continue to offer the advanced technology needed to maximize production quality and capacity to support these needs."

The new units, expected to start up in 2013-2014, will produce 900,000 metric tons of cumene and 300,000 metric tons of phenol annually. Honeywell's UOP will provide engineering design, technology licensing, catalysts, adsorbents and technical service for the project.

The UOP Q-Max process produces high-quality cumene through the alkylation of benzene with propylene. The cumene is subsequently converted to high-quality phenol, with low feedstock and utility requirements, using the UOP Phenol process.

The UOP Q-Max process uses a robust and efficient catalyst system, which maximizes on-stream time, and minimizes raw material and energy consumption. To date, the total licensed UOP Q-Max production capacity exceeds 5.8 million metric tons per year. The low temperature/pressure and low intermediate inventory design of the UOP Phenol process is inherently safer, more economical to build, easier to operate, and provides higher product yields than competitive technologies. UOP's total licensed phenol production capacity exceeds 3.4 million metric tons per year.

Founded in 1976, Kumho P&B Chemicals, Inc. specializes in the production of phenol and its derivatives, and leads the Asian phenol industry. The company is based in Yeosu, South Korea, and is a subsidiary of Korea's Kumho Petrochemical Company.

UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading international supplier and licensor of process technology, catalysts, adsorbents, process plants, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International, Inc. and is part of Honeywell's Performance Materials and Technologies strategic business group. For more information, go to www.uop.com.

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 release 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 UOP LLC, a Honeywell company