Honeywell's UOP Selected by HC Petrochem to Expand Petrochemicals Production in South Korea

DES PLAINES, Ill., Sept. 28 /PRNewswire-FirstCall/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that HC Petrochem Co., Ltd. has selected UOP to provide technology for an expansion of its petrochemicals plant in Daesan, South Korea.

HC Petrochem Co., Ltd., a joint venture between Japan's Cosmo Oil and South Korea's Hyundai Oilbank, will use the UOP Parex™ process and the UOP Isomar™ process to help triple production of high-purity para-xylene to support growing, long-term demand for petrochemicals worldwide. Para-xylene is a key ingredient in the production of purified terephthalic acid (PTA), which is used to make polyester for fabric and polyethylene terephthalate (PET) chips for carbonated soft drink and water bottles.

"UOP has a long history of working with both of the HC Petrochem Co., Ltd. joint venture partners and is pleased to have been selected for this important project," said Peter Piotrowski, senior vice president of process, technology and equipment for Honeywell's UOP. "We are looking forward to implementing our newest technologies, which will help HC Petrochemicals become a leading provider of aromatics in Asia."

Basic engineering design of the plant has begun and start-up is projected for the second half of 2013. HC Petrochem Co., Ltd. plans to expand production of para-xylene from 380,000 metric tons per annum to 1,180,000 metric tons per annum.

The new Parex and Isomar process units will use mixed xylene as feedstock supplementing the existing UOP CCR Platforming™, Sulfolane™, Tatoray™, Isomar and Parex process units at the plant to expand the production. UOP is the world's leading licensor of process technology for the production of aromatics and has licensed more than 725 individual process units for the production of aromatics.

Hyundai Oilbank, a petrochemicals and refinery company headquartered in Seoul, South Korea, and Cosmo Oil, a petroleum and petrochemicals company headquartered in Tokyo, Japan, established HC Petrochem as a 50-50 joint venture in November 2009.

UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading international supplier and licensor of process technology, catalysts, adsorbents, process plants, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International, Inc. and is part of Honeywell's Specialty Materials strategic business group. For more information, go to www.uop.com.

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 "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE UOP LLC, a Honeywell company