Shandong will also use the Olefin Cracking Process, which boosts the total yield of useable ethylene and propylene by further converting olefins produced during the MTO process.
Previously, Honeywell's UOP announced two other MTO projects. China's Wison ( Nanjing) Clean Energy Company Ltd. also licensed Honeywell UOP's advanced MTO solution. China's Jiutai Energy (Zhungeer) Co. licensed Honeywell's UOP/Hydro MTO process. The facilities are expected to produce 295,000 and 600,000 metric tons of ethylene and propylene per year, respectively.
Shandong Yangmei Hengtong Chemicals Co. Ltd. is a global chemical enterprise that produces urea, methanol, caustic soda, hydrogen peroxide and polyvinyl chloride. The company is based in Linyi, China and operates as a subsidiary of Shanxi Yangquan Coal Industry (Group) Co., Ltd.
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 Performance Materials and Technologies strategic business group. For more information, go to www.uop.com.Honeywell ( 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; turbochargers; and performance 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.