Honeywell and OLI Systems Software Improves Analysis, Design and Operation of Industrial Processes Involving Aqueous Electrolytes
PHOENIX, May 17, 2005 - Honeywell (NYSE:HON) today announced an alliance agreement with OLI Systems, Inc. to enhance Honeywell's UniSim(tm) Design simulation solution for the process industries. Under the agreement, Honeywell and OLI will offer UniSim OLI, a new software solution that will enable process engineers to quickly and reliably perform process modeling and analysis of aqueous electrolyte systems. "The agreement with OLI is the first of many collaborations with best-in-class engineering technology providers who have unique expertise relevant to Unisim Design," said Mark Hagen, director of advanced solutions for Honeywell Process Solutions.
"Honeywell is committed to restoring the leadership status of the legacy HYSYS(tm) product line through both internal investment and the embracing of partners such as OLI. OLI is the technology leader in aqueous chemistry and we look forward to expanding this relationship for the benefit of our clients." UniSim OLI will be available as an optional add-in as part of the first commercial release of the UniSim Design, scheduled for June 2005.
UniSim OLI will comprise: * The Interface for UniSim OLI - owned and leased through Honeywell * The OLI Alliance Engine for UniSim OLI - owned and leased through OLI "OLI sees great promise in an alliance with Honeywell because it has expressed a considerable appreciation for our unique technology and the software that encompasses this technology," said Marshall Rafal, president of OLI. "At the same time, Honeywell has already earned a position of considerable trust and respect throughout the process industries. We are committed to helping to make this a win-win-win for the customers, for Honeywell and for OLI." OLI is the world's leading provider of technology and software for applications involving electrolytes and corrosion.
OLI software is currently used by most of the largest oil and gas and chemical companies in the world. In addition, many U.S. government labs use OLI software.
OLI's technology development has been greatly accelerated and enhanced by several major grants from both the U.S. Department of Energy and the U.S. Department of Commerce.
About Honeywell
Honeywell International is a $26 billion 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, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index.
For additional information, please visit www.honeywell.com .Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry.
For more information about Process Solutions, access www.honeywell.com/ps . This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.