(HON) Honeywell International Providing Technology for Samsung

Honeywell International Inc.’s (HON) group company, UOP LLC, will be providing technologies for the production of key petrochemicals and high-quality diesel and jet fuel at Samsung Total Petrochemicals Co. Ltd.’s complex in Daesan, South Korea. Samsung Total Petrochemicals Co. Ltd is a joint venture between Samsung General Chemicals and Total Petrochemical.

The technologies from UOP are the latest energy-efficient designs from the company, being deployed for the first time on the integrated aromatics complex of Samsung. The new technique will reduce energy consumption by 33% and will also decline green gas emissions significantly in comparison to its earlier technologies.

UOP’s engineering design, technology licensing, catalysts, adsorbents, equipment and technical service will be deployed on the new units, which upon completion will produce 1 million metric tons of para-xylene and 500,000 metric tons of benzene per year. The rising demand for energy in the region will be considerably met with this deployment. The new facility is expected to start its operations in 2014.

Honeywell expects to face a more challenging macro environment in 2012, witnessing slower year-over-year growth worldwide in GDP and industrial production. With a robust long-cycle backlog of almost $16 billion, strong growth in commercial aerospace aftermarket, and continued contributions from short-cycle businesses, the company expects to grow faster than its end markets.

In 2012, Honeywell will deliver strong earnings growth and free cash flow conversion, driven by its good portfolio mix and continued margin expansion

Based in Morris Township, N.J., Honeywell International Inc. is a Fortune 100 company providing technical and manufacturing products and services to various industries. The major competitors of Honeywell are BorgWarner Inc. (BWA), United Technologies Corp. (UTX) and Johnson Controls Inc. (JCI).

We currently maintain our Outperform rating on Honeywell, with a Zacks #2 Rank (Buy recommendation) over the next one-to-three months.

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