This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Honeywell's UOP Selected To Provide Technology For Petrochemical Production In China

Stocks in this article: HON

DES PLAINES, Ill., Sept. 18, 2013 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that its technology has been selected to produce key ingredients for fuels and synthetic rubber in China.

China's Panjin Heyun New Material Co. will use Honeywell's UOP C 4 Oleflex™ process to produce isobutylene, a key ingredient for fuels and synthetic rubber. This is UOP's third C 4 Oleflex license in China this year. Panjin Heyun New Material Co. will also use Honeywell's UOP Butamer™ process which converts normal butane to isobutane thereby maximizing the feedstock utilization to the UOP Oleflex process.

Southeast Asia is the world's largest producer of rubber, and China is the largest consumer, accounting for 33 percent of the world's rubber consumption, according to a 2012 Research and Markets report. China's economy is expected to grow about 8 percent this year, further increasing the country's need for key materials.

"As China's economy grows, and the need for fuels and rubber rises worldwide, UOP is providing solutions that help producers maximize their output to support demands locally, while capturing a high return on investment," said Pete Piotrowski, senior vice president and general manager of Honeywell's UOP Process Technology & Equipment business unit. "UOP technology is currently being used in China to produce about 5 million metric tons annually of key petrochemicals and we look forward to working with Panjin to continue supporting the country's efforts."

The new unit, which is expected to start up in 2014, will process approximately 400,000 metric tons annually of isobutane feedstock at its facility in Liaoning Province, China. Honeywell's UOP will provide the engineering design, technology licensing, catalysts, adsorbents, equipment, staff training and technical service for the project.

The C 4 Oleflex process uses catalytic dehydrogenation to convert isobutane to isobutylene. Compared with competing processes, Oleflex technology provides the lowest cash cost of production, the highest return on investment and the smallest environmental footprint, enabled by high isobutylene yields, low energy and water consumption, and use of a fully recyclable platinum alumina-based catalyst system. In addition, unique to the Oleflex process, independent reaction and regeneration systems are in place that allow continuous use of catalysts for steady-state operations (non swing-bed), which helps maximize operating flexibility, on-stream factor and reliability.

Since the technology was commercialized in 1990, Honeywell's UOP has commissioned nine C 3 Oleflex units for on-purpose propylene production, with the 10 th unit scheduled to start-up this year in Russia. There are currently five C 4 Oleflex units in operation, producing nearly 2 million metric tons of isobutylene annually.

Earlier this year Honeywell's UOP announced two new C 4 Oleflex units in China, expected to produce 320,000 metric tons annually of isobutylene beginning in 2014. Since the beginning of 2011, Honeywell's UOP has announced 11 new C 3 Oleflex units in China, Abu Dhabi and North America. It also announced China's first combined C 3/C 4 Oleflex unit, which is expected to start up in 2014.

Honeywell's UOP Butamer process uses high-activity, chloride-promoted catalysts in the presence of hydrogen to convert isobutane to normal butane.  To date, Honeywell's UOP has commissioned 77 Butamer units to convert normal butane to isobutane and two Butamer units to convert isobutane to normal butane.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.99 -9.95 -0.06%
S&P 500 2,069.26 +2.23 0.11%
NASDAQ 4,773.8820 +15.63 0.33%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs