The UOP Oleflex process converts propane to propylene and isobutane to isobutylene using catalytic dehydrogenation. Compared with competing processes, Honeywell's UOP Oleflex technology provides the smallest environmental footprint, the lowest cash cost of production and the highest return on investment. Worldwide, UOP has been awarded 25 out of the last 29 dehydrogenation projects in the last three years. The technology consistently performs well due to its high reliability, low capital cost, low energy and water consumption, high olefin yields, and 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, up time and reliability. Since the Oleflex technology was commercialized in 1990, UOP has commissioned 10 C 3 Oleflex units for on-purpose propylene production and six C 4 Oleflex units for on-purpose isobutylene production. Since the beginning of 2011, UOP has announced 17 new Oleflex units worldwide. The UOP Butamer process uses high-activity, chloride-promoted catalysts in the presence of hydrogen to convert isobutane to normal butane. To date, UOP has commissioned 77 Butamer units to convert normal butane to isobutane and two Butamer units to convert isobutane to normal butane.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 certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. 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.