Honeywell Technology Will Help MOL Improve Processes and Comply with New Standards
PHOENIX, April 27, 2004 - Honeywell (NYSE:HON) announced today it has received a $5.8 million contract with engineering contractor OTF-IGN-Petrochem Kft for the installation of its Experion(tm) Process Knowledge System and Fail Safe Controller (FSC®). The comprehensive automation solution will be implemented at the new Gasoline Desulphurization Unit (BEK5) at the Százhalombatta refinery of Hungarian Oil and Gas Company (MOL). Experion PKS and FSC will help to increase operator efficiency and enhance asset utilization at the refinery, and will enable MOL to meet the latest abnormal situation management requirements. Honeywell Hungary will act as the main automation contractor, providing third-party instrumentation and engineering services.
Installation will be completed by June 2005." MOL selected Honeywell for the BEK5 Project because they offered a solution which has the potential to maximize the safety, availability and profitability of the plant," explained Vilmos Gombás, Director of MOL's Project Division. "Honeywell has proven their capabilities as an engineering, procurement and construction contractor and main automation contractor previously by implementing large, complex projects at different sites of the MOL Group on time, on budget, and with the highest quality." MOL is one of central Europe's largest integrated oil and gas companies and is the largest company in Hungary in terms of sales.
Honeywell's relationship with MOL dates back to 1997, when it began working on a new wave of automation projects, including the MOL gasoline blender and delayed coker.Honeywell International is a $23 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; specialty chemicals; fibers; and electronic and advanced 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.acs.honeywell.com .
