ABU DHABI, June 27, 2006 - Honeywell (NYSE:HON) announced today it has been awarded a Process Automation Systems contract for new and existing petrochemical plants to be operated by EQUATE Petrochemical Company K.S.C. (EQUATE) at a petrochemical site in Shuaiba, Kuwait. EQUATE operates existing plants at the Shuaiba site for the production of ethylene glycol, polyethylene and polypropylene.
The announced Olefins II Project between Dow and PIC will create several new plants for the production of ethylene and ethylene derivatives, which will also be operated by EQUATE. Under the agreement, Honeywell will install its Experion Process Knowledge System (PKS) automation platform for operation of the new plants, and will migrate existing legacy TotalPlant Systems at the EQUATE plants to Experion PKS. Migration at the existing plants of EQUATE will be complete in 2006, and installation at the new plants is planned in line with expected start-up in 2008. The Experion installation and upgrades will help EQUATE operators better manage critical application processes, throughout the entire facility.
“Honeywell knows that to remain competitive in the chemicals industry, it is essential to improve long-term operational safety and stability, while also increasing productivity,” said Larry Perkins, regional general manager of Honeywell Process Solutions, Middle East. “The EQUATE contract demonstrates that Experion’s innovative technology has the power to help process manufacturers manage critical processes to achieve operational goals while maintaining a safe operational environment. The agreement also reflects Honeywell’s long-term commitment to serving our Middle East customers with consistent, reliable local services and support.”
Honeywell International is a $30 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.