SHANGHAI, April 28, 2015 /PRNewswire/ -- Honeywell
(NYSE:HON) announced today its Performance Materials and
Technologies division has opened a new manufacturing facility in
China to produce state-of-the-art
catalysts used to make components for plastics production.
This new site in Zhangjiagang City, Jiangsu Province, has begun production of
catalysts used to covert propane to propylene as traditional
sources for this product shrink. The catalysts are used in the
Oleflex™ process developed by Honeywell's UOP, a global
leader in technology for the oil and gas industries. Over the past
four years, UOP has licensed its Oleflex technology to 30 producers
globally, including 25 in China.
The first two of these new plants came online in China last year.
"This is another important milestone for Honeywell as we invest
in capacity to meet strong customer demand for our game-changing
technologies," said Darius Adamczyk,
president and CEO of Honeywell Performance Materials and
Technologies. "This investment will support our growth while
helping China meet growing
domestic and global demand for propylene."
Honeywell announced its plans to add this manufacturing capacity
in October 2013. The facility is
located in an established, world-class industrial park about 85
miles northwest of Shanghai. In
addition to Oleflex catalysts, the site will produce adsorbent
materials used in applications including refining and petrochemical
production and natural gas processing. Honeywell also is planning
production of materials for other fast-growing technologies at the
site.
"This campus enables Honeywell to help Chinese petrochemical
producers meet global demand for propylene with UOP's Oleflex
technology," said Scott Zhang, vice
president and general manager for Honeywell Performance Materials
and Technologies in Asia. "These
manufacturing operations use local raw materials, supporting the
area economy and the sustainable economic development of
Jiangsu Province."
Historically, 70 percent of the world's propylene was produced
from petroleum as a byproduct of making ethylene, another component
of plastics. In recent years, ethylene producers increasingly have
made ethylene from ethane in natural gas, which produces a
negligible amount of propylene. This shift in ethylene production
has caused a propylene supply gap, leading to investments in
facilities that produce on-purpose propylene.
Oleflex is the leading technology for converting propane to
propylene. Compared with alternative technologies, it offers higher
yields, lower production costs and higher investment returns, with
the smallest environmental footprint.
Honeywell has a long history in China, dating back to 1935 when it established
the first franchise in Shanghai.
Today, its business units have their Asia
Pacific headquarters in China, and Honeywell has established
subsidiaries and joint ventures in more than 20 cities across the
country.
Honeywell Performance Materials and Technologies (PMT) is a
global leader in developing advanced materials, process
technologies and automation solutions. PMT's Advanced Materials
businesses manufacture a wide variety of high-performance products,
including environmentally friendlier refrigerants and materials
used to manufacture end products such as bullet-resistant armor,
nylon, computer chips and pharmaceutical packaging. Process
technologies developed by PMT's UOP business (www.uop.com) form the
foundation for most of the world's refiners, efficiently producing
gasoline, diesel, jet fuel, petrochemicals and renewable fuels.
PMT's Process Solutions business (www.honeywellprocess.com) is a
pioneer in automation control, instrumentation and services for the
oil and gas, refining, pulp and paper, industrial power generation,
chemicals and petrochemicals, biofuels, life sciences, and metals,
minerals and mining industries.
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. For more news and
information on Honeywell, please visit
www.honeywellnow.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
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SOURCE Honeywell