Honeywell to Invest $33 Million in Louisiana Facility

MORRIS TOWNSHIP, N.J., July 6, 2011 /PRNewswire/ -- Honeywell (NYSE: HON) announced today that it will invest $33 million in its Baton Rouge, La., manufacturing facility – one of the leading suppliers of refrigerants in the U.S. – to produce a low-global-warming material used in insulation and aerosols.

This investment will provide the Baton Rouge facility with the ability to produce Honeywell's new low-global-warming-potential (GWP) blowing agent and propellant (technical name: HFO-1234ze) on a commercial scale. Production of HFO-1234ze at the facility is scheduled to begin in late 2013.

"Honeywell's Baton Rouge plant has a long history of manufacturing materials that meet consumer needs for comfort and energy efficiency," said Andreas Kramvis, president and CEO of Honeywell Specialty Materials. "We are pleased that this investment will enable Baton Rouge to become the premier source of a next-generation technology that enables low-global-warming aerosol propellants, foam blowing agents and refrigerants."

"Customers are looking for solutions from Honeywell that are energy efficient, safe, economical and better for the environment than existing materials. The investment we are making in Baton Rouge will allow us to meet the significant global customer demand for HFO-1234ze, which has all of these attributes," said Terrence Hahn, vice president and general manager of Honeywell Fluorine Products. "This marks an important milestone for our entire portfolio of low-global-warming-potential products, which help safely and cost-effectively improve the energy efficiency of everyday products while meeting environmental regulations."

Honeywell's Baton Rouge facility was built in 1945 and continues to serve as one of Honeywell's main manufacturing sites for its Specialty Materials business. Products made at the Baton Rouge facility are shipped to customers around the world.

HFO-1234ze has been accepted for use and sale in foam and aerosols by the U.S. Environmental Protection Agency. It is also currently used in Europe and Japan, with the majority of demand coming from Europe.

HFO-1234ze is non-flammable, non-ozone depleting and has a global warming potential (GWP) of 6. It can be used in a variety of applications and can replace HFC-134a (which has GWP of 1,430) and HFC-152a (which has a GWP of 124) in aerosol applications and thermal insulating foams, including extruded polystyrene board. It is also being considered to replace HFC-134a for large stationary refrigeration applications.

Earlier this year, HFO-1234ze was recognized by the Paris Aerosol Forum as the best new technical product innovation. The prize was awarded by an independent jury of aerosol experts representing brand owners, packaging manufacturers and the media.

According to the European Aerosol Federation, 5.1 billion aerosol containers were produced in Europe in 2009. According to the Consumer Specialty Products Association, more than 4 billion aerosol containers were produced in the United States last year.

Honeywell has pioneered the development of hydrofluoroolefins (HFOs), which are a family of unique products that offer similar performance properties to today's most widely used refrigerants, blowing agents and aerosol propellants, but with the added benefit of having a lower impact on global warming.

Another product in Honeywell's hydrofluoroolefin portfolio, HFO-1234yf, is being adopted globally by automobile manufacturers as a replacement for the current hydrofluorocarbon refrigerant used in automobile air conditioning, HFC-134a.

For more information about Honeywell's low-GWP products, visit www.abettercool.com.

Honeywell Specialty Materials is a global leader in providing customers with high-performance specialty materials, including fluorine products; specialty films and additives; advanced fibers and composites; intermediates; specialty chemicals; electronic materials and chemicals; and technologies and materials for petroleum refining.

Honeywell International (www.honeywell.com) is a Fortune 100 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. For more news and information on Honeywell, please visit www.honeywellnow.com.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

SOURCE Honeywell