Honeywell Named Growth Company of the Year for Industrial Control Solutions by Frost and Sullivan
Growth driver is Honeywell¬ís Experion PKS, an integrated solution that boosts manufacturing capacity and cost effectiveness.PHOENIX, April 10, 2003 ¬ñ Honeywell (NYSE: HON) Automation and Control Solutions (ACS) announced today that it has been named 2003 Industrial Controls Solutions Company of the Year by Frost & Sullivan, a global leader in growth consulting.Honeywell¬ís success can be attributed to key competitive wins achieved with products such as Experion PKS¬ô Process Knowledge System¬ô, which automates, controls and monitors manufacturing operations, increasing production and reducing operational costs.¬ìHoneywell Automation and Control Solutions implemented focused growth initiatives with the intent of expanding both internally and through acquisitions,¬î says Daniela Carrillo, a Frost & Sullivan Industry Analyst. ¬ìThese strategies have built their exposure and business with a broader product line and innovative sensing technologies.¬îJack Bolick, President of Honeywell Industry Solutions, said: ¬ìWe are proud to receive this award and thank Frost & Sullivan for acknowledging our achievements. This honor recognizes our commitment to customers andthe success we¬íve achieved across several industrial markets. It also supports what we¬íve been hearing from our customers ¬ñ that they can count on Honeywell to deliver the operational excellence today¬ís marketplacerequires.¬îMr. Bolick cited Honeywell¬ís Experion PKS¬ô Process Knowledge System¬ô ¬ñ which has already passed $200 million in orders ¬ñ as a prime example.Honeywell has improved profits despite industry-wide decreases in capital spending, said Ms. Carrillo, adding that Honeywell also has: demonstrated quality and sophistication in its products as exemplified by Experion PKS, a superior product line for industrial automation and sensing solutions, a strong focus on research and development, and consistent positive financial performance.Mr. Bolick said several factors over the past year have contributed to Honeywell ACS¬í growth and strengthened its market position:¬∑Won key competitive orders through new products such as Experion PKS¬ô, which automates, controls and monitors manufacturing operations, boosting capacity and cost effectiveness.¬∑Improved its leadership position in global sensors through the acquisitions of Invensys Sensor Systems and Ultrak Inc.¬ís closed-circuit television business. These additions have made Honeywell a leading global sensor manufacturer and integrator with a broad range of applications.¬∑Increased focus on customer service by solving customer business problems through a variety of service offerings, particularly compliance and validation services for FDA-regulated industries.Honeywell Industry Solutions¬í Vice President of Technology Paul Butler accepted the award last night at Frost & Sullivan¬ís 2003 Excellence in Industrial Technologies Banquet in San Diego. The annual event honored world-class companies for outstanding performance and achievement byindividuals and companies in industrial technologies.About Frost & SullivanFounded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan presents market Engineering Awards to companies that demonstrate excellence in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine Market Engineering Award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com.About HoneywellHoneywell International is a diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers;automotive products; specialty chemicals; fibers; and electronic and advanced materials. Based in Morris Township, N.J., Honeywell 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. Its shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. For additional information, please visit www.honeywell.com. Honeywell Industry Solutions is part of Honeywell¬ís Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiencyand profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Industry Solutions, access www.acs.honeywell.com.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 inbusiness forecasts as further described in our filings under the Securities Exchange Act.Experion PKS ¬ô and Process Knowledge System ¬ô are trademarks of Honeywell International, Inc.
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