said Monday they have entered into an automation deal worth $300 million.
Using Honeywell's systems, software and services under the umbrella of its
Industrial Control ManageAbility
program, Pittsburgh-based Alcoa said it will automate its process of converting bauxite to alumina at seven Alcoa refineries. The 10-year venture also includes establishing support centers for the Americas and the Pacific.
The companies, both components of the
Dow Jones Industrial Average
, have had a long-standing relationship.
Honeywell, which is based in Phoenix, Ariz., gained 47 cents, or 1%, to $47.47 on the
New York Stock Exchange
. Alcoa was up 26 cents, or 0.75%, to $34.95.