HON Propels Propylene Tech in China - Analyst Blog
01 Décembre 2011 - 9:15AM
Zacks
Honeywell International
Inc.’s (HON) group company, UOP LLC, has been chosen by
Zhejiang Shaoxing Sanjin Petrochemical Co. Ltd to offer its key
technology for producing propylene to the Chinese company. The deal
provides a good opportunity for Honeywell’s UOP Oleflex™ technology
in China, as the country’s propylene producer increases production
to meet the demands.
This is the sixth contract bagged
by Honeywell for its UOP technology from petrochemicals producers
to produce propylene in 2011. Four of the prior contracts were in
China and one in Abu Dhabi. The technique is used to produce
materials,such as films and packaging.
In the current Chinese project,
Honeywell’s UOP C3 Oleflex process technology will be used by a new
propane dehydrogenation unit to produce 450,000 metric tons of
propylene annually. The unit will be built at Zhejiang’s facility
in Shaoxing City, Zhejiang Province, China and is expected to be
established by 2013.
As per the deal, apart from the
license for the technology, engineering design, catalysts,
adsorbents, equipment, staff training and technical service will be
provided by Honeywell’s UOP.
In Oleflex technique, propane is
converted to propylene through catalytic dehydrogenation. The
technique is quite economic and boosts production rate.
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 Neutral
rating on Honeywell, with a Zacks #2 Rank (Buy recommendation) over
the next one-to-three months.
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