BUDAPEST, May 8, 2007 – Honeywell has established a strategic business relationship with MOL Group, the Hungarian national oil and gas provider, to provide automation solutions for MOL facilities in central Europe. The agreement is part of MOL’s effort to standardize industrial automation for hardware, software and services. The goal of the strategic business relationship is to reduce production costs and increase yields at MOL’s plants in central Europe. To do so, Honeywell will implement 10 UniSim Operator Trainer Simulator projects at MOL’s Duna and Slovnaft refineries over the next three years; upgrade five existing Honeywell TDC 3000 control systems; and extend the current Integrated Service Agreement by five years, to 2014.
Additional projects will be defined each year according to MOL’s budgets and business priorities. MOL, which has worked with Honeywell since 1983, is one of Europe’s largest oil and gas companies and is the largest company in Hungary in terms of sales. The latest agreement positions Honeywell as a key automation solution supplier for MOL. “Long term strategic partnerships with key suppliers help us strengthen our business,” said Laszlo Fekete, senior vice president of Corporate Services, MOL Group.
“Honeywell has been a trusted supplier for over two decades, and because of the company’s deep knowledge of our business issues and needs, it was the ideal partner for this project.” “We’re in an excellent position to help MOL meet its business objectives,” said Paul Orzeske, vice president of Honeywell Process Solutions Europe, Middle East and Africa. “Our varied experience with the company positions us to make a positive impact in terms of plant performance and help reduce MOL’s operational, procurement and maintenance costs.
Ultimately, we expect the solutions we implement to improve product quality and result in higher customer satisfaction for MOL.”Honeywell International is a $33 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 and Chicago 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. 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.