Honeywell Reinforces Commitment to Azerbaijan With Opening of New Office
BRUSSELS, June 24 2005 - Honeywell (NYSE:HON), a global leader in process automation technology and services for the oil and gas industry, is today opening a new Caspian region head office in Baku, Azerbaijan. The move demonstrates Honeywell's commitment to drive growth and provide strong process technology solutions and services to the oil and gas industry inAzerbaijan and the wider Caspian area. The new office underlines Honeywell's long term commitment to help the oil and gas industry within Azerbaijan increase oil production within one of world's most important oil producing provinces. Specifically, Honeywell is expanding its operation within the country to provide consistent and reliable support to oil and gas firms in the region. It achieves this by delivering locally delivered services and solutions that enhance safety, reliability and gain optimal production to customers based in Azerbaijan and the Caspian region. Honeywell's key objective is to enhance its service capability by rolling out a localization strategy in national markets - using the best local expertise to deliver consistent, reliable services and support to Azerbaijan's oil and gas industry. "We are delighted to establish a formal presence in Azerbaijan. The establishment of a new office and team here in Baku is a logical progression in our growth strategy for the region," said Paul Orzeske, vice president and general manager of Honeywell Process Solutions EMEA. "The Azerbaijan oil and gas market has great potential and the local expertise of our team will be fundamental to the success of our operation. This move reinforces our serious long-term commitment to providing world class automation solutions to the country's growing oil and gas industry. In particular, we are dedicated to training and developing local people in Azerbaijan - we believe this is the best way to deliver first class services to our clients. " Julian Hedera, Managing Director for Honeywell Process Solutions in Azerbaijan commented: "This new office underlines our commitment to strengthening our presence here in Azerbaijan and helping the country maximize its oil producing capabilities. At Honeywell, we pride ourselves in working with customers, providing lifecycle support. We have a strong team that will be able to combine Honeywell's global capabilities and technological expertise with the unique local knowledge of our engineers and sales force. We can deliver a consistent, reliable and world class service to the Azerbaijani oil and gas industry over the long term - this new expansion will give us the platform to reinforce our relationship with customers and grow our business in Azerbaijan for years to come." 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.
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