DES PLAINES, Ill., Sept. 8 , 2011 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that Fujian Meide Petrochemical Co. Ltd. selected it to provide key technology to help meet the growing Chinese demand for propylene, a petrochemical used in plastics production.
The new propane dehydrogenation unit at the facility will use UOP's C3 Oleflex™ technology to produce propylene, a material used in the production of materials such as films and packaging. UOP will provide engineering design, technology licensing, catalysts, adsorbents, equipment, staff training and technical service for the project at Fujian Meide's facility in Fujian City, Fujian Province, China. The unit, expected to start up in 2014, will produce 660,000 metric tons of propylene annually. It will be the largest propane dehydrogenation unit in the world to date.
China's propylene consumption accounts for more than 15 percent of worldwide demand and is growing at about 5 to 6 percent per year.
"With the licensing of our 20th unit, UOP Oleflex process technology now produces 5.5 million metric tons of propylene annually worldwide," said Pete Piotrowski, senior vice president for Process Technology and Equipment at Honeywell's UOP. "We remain committed to providing the advanced technologies and services that will help meet the growing demand and we look forward to working with Fujian Meide on this significant contribution."
The UOP Oleflex process uses catalytic dehydrogenation to convert propane to propylene. Compared to competing PDH processes, Oleflex technology provides the lowest cash cost of production and the highest return on investment, enabled by low operating and capital costs, high propylene yield and reliability, and maximum operating flexibility. Since the technology was commercialized in 1990, nine C3 Oleflex units for on-purpose propylene production have begun operation, with the 10th unit scheduled to start up in Russia in 2012. Earlier this year, UOP announced similar projects with Zhejiang Julong Petrochemical Co. Ltd. and Jiangsu Haili Chemical Industry Co. Ltd, both located in China, and Abu Dhabi Oil Refining Co. (Takreer), located in Abu Dhabi.
Fujian Meide Petrochemical Co. Ltd. is a fully owned subsidiary of China Packing Group Company Ltd., which is headquartered in Fuzhou City, Fujian Province, China.
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