Honeywell Names Shane Tedjarati President, High Growth Regions and Stephen Shang President, Honeywell China

Pictured left to right: Shane Tedjarati, President, High Growth Regions, and Stephen Shang, President, Honeywell China

Honeywell announced that Shane Tedjarati was named to the broader role of President, High Growth Regions, and Stephen Shang will take over as President, Honeywell China, effective immediately. Tedjarati will continue to report directly to Honeywell Chairman and CEO Dave Cote. Shang will report to Tedjarati.

“Globalization has been a key pillar of our Growth Initiative for the past decade,” said Dave Cote, Honeywell Chairman and CEO. “Ten years ago, less than 40% of our sales were generated outside the U.S. Today, our company is twice the size, and approximately 55% of our revenues are generated outside the U.S. We began executing this strategy by focusing on the two most important emerging markets – China and India. That strategy has proven to be a good one. We have grown nearly ten-fold in revenues and now have nearly 25,000 employees in China and India, representing a significant share of our global growth story.”

For biographical and additional information, read the press release.

Posted on Wednesday, January 4, 2012

Honeywell Tapped to Overhaul Video Surveillance at Niagara Falls Casino

Honeywell was selected to overhaul the video surveillance system at Casino Niagara, one of the top tourism attractions in Canada’s famed Niagara Falls. The project includes retrofitting the existing surveillance network with IP video technology that will allow casino officials to use a single command and control center to view and remotely manage the systems at both Casino Niagara and its nearby sister facility, Fallsview Casino.

The project calls for Honeywell to provide its MAXPRO® VMS (video management system) and VideoBloX video and audio matrix to oversee the casino, which encompasses 1,600 slot machines, 28 gaming tables, a 12-table poker room and several other attractions. Additionally, it will upgrade the casino’s VCR recording system to an enterprise-wide digital recorder network.

In addition to MAXPRO VMS, Honeywell’s wide portfolio of entry level-to-enterprise IP offerings includes IP-based network video recorders (NVRs), hybrid digital video recorders (DVRs) and a full line of cameras. These offerings are designed to help organizations simplify the transition from analog to IP video surveillance.

For more information, read the press release or visit the Honeywell Security website.

Posted on Tuesday, December 20, 2011

Honeywell Forecasts 2012 Sales Of $37.8-38.9 Billion, Up 4-7%; Proforma Earnings Per Share Of $4.25-4.50, Up 6-12%

Company Reaffirms 2011 Financial Guidance

Honeywell announced its 2012 financial outlook including:

• Sales of $37.8-38.9 billion, up 4-7% over 2011 estimated sales
        – 4-6% organic growth expected
• Earnings per share (EPS) of $4.25-4.50, an increase of 6-12% over prior year
        – Strong sales conversion drives 40-70 basis points margin expansion
        – Proforma EPS from continuing operations up 13-19%
        – Mark-to-market pension adjustments in both periods excluded
• Free cash flow (cash flow from operations less capital expenditures) of approximately $3.5 billion
       – Free cash flow conversion of approximately 100%
       – 2012 free cash flow guidance excludes any cash pension contributions

The company also reaffirmed its 2011 full-year guidance, expecting:
• Sales of approximately $36.5 billion, up 13% over 2010
– Excludes the divested CPG business, treated as discontinued operations
• Proforma earnings per share of approximately $4.03, up 34% over 2010
– Mark-to-market pension adjustments in both periods excluded
• Free cash flow guidance of approximately $3.5 billion, excluding cash pension contributions

“Honeywell’s 2011 performance significantly adds to our performance track record and highlights the strength of our portfolio, robust new product pipeline, and expansion in high-growth regions,” said Honeywell Chairman and Chief Executive Officer Dave Cote. “Our long-cycle backlog continues at record levels, with sustained strong orders growth particularly at UOP, Process and Building Solutions, and Commercial Aerospace. Further, our short-cycle businesses, such as Turbo Technologies, Advanced Materials, and ACS products performed well throughout 2011.”

“We’re planning for a more challenging macro environment in 2012,” continued Cote. “While key economic indicators show slower year-over-year growth in GDP and industrial production globally, we expect to grow faster than the end markets we serve, mainly driven by our robust long-cycle backlog of almost $16 billion, strong commercial aerospace aftermarket growth, and continued contributions from our short-cycle businesses. We feel confident that our portfolio mix and continued margin expansion will deliver strong earnings growth and free cash flow conversion in 2012.”

For more information, listen to a replay of the Investor Conference call.

Posted on Thursday, December 15, 2011

Honeywell’s Initiative for Science and Engineering Launches, Inspires Mexicali and Beijing Students Through Nobel Laureates

Honeywell Hometown Solutions (HHS), the company’s corporate citizenship initiative, recently unveiled the Honeywell Initiative for Science & Engineering (HISE), a new global science education program aimed to inspire future scientists and engineers.

The program which launched its first events at Beihang University (BUAA) in Beijing, China and CETYS Universidad in Mexicali, Mexico aims to bridge the gap between formal academic study and practical business applications by providing students with direct access to Honeywell technology leaders and Nobel Laureates in physics and chemistry. The program also provides paid internship opportunities to outstanding students.

At the event at CETYS Universidad, more than 1,400 guests, including 800 students, heard from Dr. John Lewis Hall, the 2005 Nobel Prize winner in physics. And in Beijing, a renowned researcher in atomic and molecular physics and 1997 Nobel laureate, Professor Claude Cohen-Tannoudji, delivered a lecture on Laser Manipulation of Atoms that underlined the importance of fundamental scientific research.

Dr. Hall and Professor Cohen-Tannoudji also spoke to students about the impact their careers in science, technology, engineering, and math can make on communities and global corporations. Along with the university students, guests included teachers, government and business representatives, and Honeywell employees from the Mexicali and Beijing regions.

HISE is part of HHS which focuses on five issues of vital importance: Family Safety & Security; Housing & Shelter; Science & Math Education; Habitat & Conservation; and Humanitarian Relief. Together with leading public and non-profit institutions, Honeywell has developed powerful programs to address these needs in the communities it serves.

For more information, visit the HHS website.

Posted on Friday, December 9, 2011

Honeywell Names Briand Greer President of Honeywell Aerospace Asia Pacific

Honeywell has named Briand Greer President of Aerospace Asia Pacific. Greer is based in Shanghai and will report to Tim Mahoney, President and CEO of Honeywell Aerospace. Greer succeeds Mark Howes, who will be returning to Phoenix, Arizona, to continue a role within the Aerospace Leadership Team.

As president of Honeywell Aerospace in Asia Pacific, Greer will oversee direct Honeywell operations across six countries and broader field operations across a network of 14 countries in the region.

“Briand has more than 20 years of experience in the aerospace industry,” said Mahoney. “Briand’s deep understanding of our technologies and capabilities, combined with his track record of growing our Aerospace business globally, will be critical to strengthening our position in Asia Pacific and help advance China’s aviation industry.”

Greer was most recently Vice President of China Growth at Honeywell Aerospace, in which he was responsible for all strategic growth initiatives with the Aviation Industry Corporation of China (AVIC) and other entities across the region. Previously, Greer has held positions with Honeywell as Vice President of Global Sales and Business Development for the Defense & Space business unit and as Vice President of Airline Sales, where he was responsible for global airline sales, business development strategies and execution. Greer has traveled and done business in Asia for the past 15 years and has led aerospace business development in China for the last seven years.

For more information, read the press release.

Posted on Monday, December 5, 2011

Honeywell’s UOP Selected to Provide Technology For Petrochemicals Production in China

UOP LLC, a Honeywell company, has been selected by Zhejiang Shaoxing Sanjin Petrochemical Co., Ltd. to provide key technology to produce propylene in China.

The win marks the sixth time this year Honeywell’s UOP technology has been selected by petrochemicals producers to produce propylene, which is used in the production of materials such as films and packaging.

The new propane dehydrogenation unit will use Honeywell’s UOP C3 Oleflex process technology to produce 450,000 metric tons annually of propylene. The unit is expected to start up in 2013 at Zhejiang’s facility in Shaoxing City, Zhejiang Province, China. In addition to technology licensing, Honeywell’s UOP will also provide engineering design, catalysts, adsorbents, equipment, staff training, and technical service for the project.

The Oleflex process uses catalytic dehydrogenation to convert propane to propylene. Compared with alternative propane dehydrogenation processes, Oleflex technology provides the lowest cash cost of production and the highest return on investment. These outcomes are enabled by low operating and capital costs, high propylene yield and reliability, and maximum operating flexibility.