Honeywell Wins Frost and Sullivan's 2006 Product Innovation Leadership of the Year Award
Award Recognizes Honeywell for Product Innovation in Industrial Control and Commitment to Manufacturers' Needs
PHOENIX, May 10, 2006 - Honeywell (NYSE:HON) announced today that global consulting firm Frost and Sullivan has honored the company with its 2006 Product Innovation Leadership of the Year Award in the industrial automation and process control space. The award is presented each year to the company that has best demonstrated the ability to develop and/or advance products with more innovative capabilities than competing vendors. "Honeywell has inspired a consistent offering of control products that have enabled customers to improve plant performance and reduce downtime," said Kishan M. Bhat, Frost and Sullivan industry manager. "Customers have reiterated their confidence in Honeywell as the leader of innovation in automation."
Recipients must also demonstrate great capability compared to competitors in responding to end users' needs through well-developed inventory and supply chain management, as well as significantly contribute to the industry's productivity. The selection process includes interviews with suppliers, end users and industry experts.
Over the last year, Honeywell has demonstrated its innovation in the process industries with the redesign of its flagship automation platform, Experion® Process Knowledge System (PKS). In presenting the award, Frost and Sullivan also praised the company for its UniSim(TM) process-simulation system, as well as its Business FLEX® software applications.
"In today's economy, maintaining efficiency - in regards to both operations and costs - is the common challenge facing industrial customers around the globe," said Jack Bolick, Honeywell Process Solutions president. "We design each product with that challenge in mind. And our employees are constantly asking the question, 'How can this system be even better?' Receiving this honor from Frost and Sullivan validates that proactive attitude."
Last year, Honeywell released Experion R300, which features an innovative redesign of the platform's proven architecture. Experion's new Series C input/output (I/O) controllers are mounted at a slant to reduce the system footprint, better manage heat columns and reduce installation costs. Experion R300 also features embedded cyber security technology to help prevent denial of service attacks and message flooding at the control level and an automated backup and restore product - a feature no other competitor offers. Frost and Sullivan said these features have been instrumental in generating a greater acceptance for the Experion control systems among customers.
"Apart from providing an array of control solutions to its client base, Honeywell also continuously focuses on providing solutions that help improve plant performance through advanced design, development of simulated operations and optimum utilization of the plant capacity," Bhat said. "It also drives innovation through its dynamic design models, performance monitoring, troubleshooting, production management and asset management tools."
UniSim offers simulation, design, performance monitoring, optimization and business planning capabilities for the oil and gas production, gas processing, petroleum, refining and chemical industries. Frost and Sullivan said UniSim has helped Honeywell customers to drive innovation, and that the solutions provide customers the ability to enhance performance throughout a plant's lifecycle.
Business FLEX, software that helps manufacturers sync their production schedules with business objectives, also received high marks. Frost and Sullivan cited Business FLEX's ability to speed the supply chain, provide greater visibility into operations and capacities, and improve energy management through regulated fuel recipes.
"Many companies release innovative new products each year, but what set Honeywell apart in winning this award is that these solutions have provided significant contributions to the industry," Bhat said. "This award recognizes the quality and depth of Honeywell's research and development program, as well as the vision and risks it took to undertake such an endeavor."
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
602-313-4054
erik.rasmussen@honeywell.com/
