HON's UOP C3 Oleflex Tech in China - Analyst Blog
26 Août 2011 - 10:30AM
Zacks
Honeywell International
Inc.’s (HON) group
company UOP LLC received a contract from Jiangsu Haili Chemical
Industry Co. Ltd. to provide key technologies at its facility in
Dafeng City, Jiangsu Province, China for the production of
propylene, cumene and phenol.
UOP’s UOP C3 Oleflex™ process
technology will be used by Jiangsu Haili’s facility for the
conversion of propane to propylene, a substance used in the
production of films and packaging and similar type of other
materials. Further, through a combination of the UOP Q-Max™ and UOP
Phenol™ process technologies, cumene will be converted to phenol.
Phenol is the basic material for making plastic and nylon.
About 510,000 metric tons of
propylene, 473,000 metric tons of cumene and 360,000 metric tons of
phenol is expected to be produced by the new unit every year.
Production at the new unit is expected to be initiated by 2014.
The technology from Honeywell is
well suited to meet the rising demand for propylene and phenol
throughout the world. Specifically, China is witnessing an
increased investment in new units by petrochemical producers to
meet the demand of both its domestic and foreign customers. The UOP
C3 Oleflex™ process technology was commercialized in 1990 and since
then nine C3 Oleflex units have been commissioned by UOP for
propylene production. The tenth unit is being setup in Russia, with
production expected to start in 2012.
Based in Morris Township, N.J.,
Honeywell International Inc. is a Fortune 100 company providing
technical and manufacturing support to customers worldwide. It also
provides aerospace products and services; control technologies for
buildings, homes and industry; automotive products; turbochargers;
and specialty materials. 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 #3 Rank (Hold
recommendation) over the next one-to-three months.
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