Honeywell Secures $6.6 Million Lifecycle Management Contract with Lyondell
Experion PKS will Improve Production, Operational Efficiency and Reduce Cost
BRUSSELS, May 11, 2006 - Honeywell (NYSE: HON) has secured a six-year lifecycle management (LCM) contract with Lyondell Chime France, the wholly-owned French subsidiary of Lyondell Chemical Company. Under the terms of the agreement, Honeywell will provide LCM technology support and migrate Lyondell's existing process automation system to the Honeywell Experion® Process Knowledge System (PKS). Experion PKS will help Lyondell optimize operational efficiency, improve production output and reduce the risk of errors for operators. Honeywell will also provide support services to help Lyondell improve maintenance efficiency and reduce costs.
"As a leader in the chemical industry, one of the primary challenges we face in maintaining a competitive edge is to continuously improve operations, maintenance and reduce costs," said Jos Benders, Lyondell director of manufacturing in Europe. "Experion will enable us to vastly improve the performance of the plant and give us more flexibility in the future to implement new features like advanced alarm management. With the new system, we're also able to capture critical operator knowledge and keep the expertise for the next generation of operators."
The solution gives Lyondell flexibility in how it manages its plant assets until they are modernized or decommissioned. The agreement enables the chemical giant to establish an automation roadmap - allowing it to choose the best time to install new plant equipment. Honeywell's local engineering team will provide support and services to ensure the plan is on schedule. LCM will effectively extend Lyondell's equipment life while providing a cost-effective path towards the latest process control technology. With easier access to all system device and process data, operators are better equipped to make the right business decisions quickly.
"Honeywell has a long-standing relationship with Lyondell that goes back 15 years," said Paul Orzeske, vice president and general manager for Honeywell Process Solutions EMEA. "Our solution is a sophisticated process automation system which will help Lyondell to increase productivity over the long term and achieve sustained growth."
Honeywell International is a $30 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.
Contact:
Erik Rasmussen
+1 602-313-4054
erik.rasmussen@honeywell.com
Gerry Grewal
London
+44 (0) 207 067 0515
ggrewal@webershandwick.com
