New center located at King Fahd University of Petroleum and Minerals will enhance technology transfer, provide technical support and manage research and development collaborations in the region
DHAHRAN, Saudi Arabia, Dec 10, 2009 - Honeywell (NYSE: HON) announced today that UOP, a Honeywell company, has established a new technical center at the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, Saudi Arabia to offer enhanced technical support, regional training services and research and development collaboration with universities and customers in the region.
The new office, located on the campus of the KFUPM, includes facilities for customer training programs and technical support offices for UOP, a global leader in the development and licensing of technology and products used in petroleum refining.
The first UOP training course is scheduled to begin in the middle of December.
"UOP has been a key partner to the Saudi Arabian refining and petrochemical industry for 40 years," said Rajeev Gautam, UOP president and CEO. "This initiative will significantly enhance the way we transfer technology, and the location of this new center will enable us to maintain close links with the university community and with Saudi petroleum industries for ongoing research and development collaborations."
The new center is part of a broader Honeywell initiative to build an integrated facility for three of its businesses at the university's Dhahran Techno Valley business cluster. Honeywell Building Solutions, Honeywell Process Solutions and UOP will open a joint office to better manage existing relationships and partnerships with organizations such as KFUPM, while keeping close geographical proximity to its many important customers in the energy industry. This integrated office is projected to open in the fourth quarter of 2010, at which time the UOP technical services center will relocate to this new location.
KFUPM is a leading educational organization for science and technology located in Dhahran, Saudi Arabia, with more than 8,000 students. The DTV was established by the KFUPM to attract the research and development centers of local and international companies and to promote new businesses. It is envisaged as a leading research and technology development nucleus with comprehensive business support.
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.
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© Press Release 2009
