UOP LLC, a Honeywell company, announced that Green Jet Fuel, produced jointly with PetroChina, powered China’s first biofuel demonstration flight.
The Air China demonstration flight, which took off and landed in Beijing, used a 50 percent blend of petroleum-based fuel and Green Jet Fuel made from the inedible plant jatropha in one engine of a Boeing 747-400 aircraft. The jatropha used to produce the fuel was grown on PetroChina’s jatropha plantation cooperation base in southwest China.
Honeywell’s UOP process technology produces Honeywell Green Jet Fuel™ from natural oils and wastes such as jatropha, camelina, and algae. The fuel meets all specifications for flight and, when used up to a 50 percent blend with petroleum-derived jet fuel, is a drop-in replacement that requires no changes to the aircraft or engine.
To date, more than 700,000 gallons of Honeywell Green Jet Fuel have been produced for use in more than 20 test and commercial flights on military and commercial platforms. In each flight, the biofuel performed as well, if not better, than traditional petroleum-based fuels.
For more information, read the press release.
Posted on Tuesday, November 8, 2011
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Honeywell has been listed as a 2011 North American Top Company for Leaders, based on a study conducted by Aon Hewitt, The RBL Group, and FORTUNE magazine.
The winners were named and ranked based on criteria including strength of leadership practices and culture, examples of leader development on a global scale, impact of leadership in communities in which they operate, business performance, and company reputation.
“Honeywell hires the best, offers challenging work and competitive benefits, rewards performance, and provides leadership development tools that drive our performance-based culture,” said Mark James, Honeywell’s Senior Vice President of Human Resources and Communications. “We have a very strong executive management team and terrific bench strength, enabling us to execute seamless succession when necessary. Honeywell has a long track record of strong financial performance, through both good and bad economic times, resulting from our leaders’ commitment to delivering on both growth and productivity.”
For more information, read the press release, view the FORTUNE list of regional rankings, or download a copy of the study.
Posted on Monday, November 7, 2011
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Honeywell signed a definitive agreement to acquire King’s Safetywear Limited (KSW), a leading international provider of branded safety footwear based in Singapore, for approximately $338 million. The move builds on Honeywell’s Norcross and Sperian Acquisitions to create a leading $2 billion personal protection portfolio designed to protect workers from “head to toe” in a variety of hazardous environments.
“The addition of KSW further builds on our leadership position in the safety products segment worldwide by substantially enhancing our position within the safety footwear category,” said Mark Levy, president and CEO of Honeywell Life Safety. “KSW brands are highly valued, as is reflected by their strong sales growth and terrific profitability. Their presence in important vertical end-markets makes them a logical extension of our business, and should enable more opportunities for Honeywell in the higher growth Southeast Asia, Australia, and Europe regions. With their terrific leadership team and expansive distribution network globally, we also see strong cross-selling opportunities worldwide.”
For more information, read the press release.
Posted on Thursday, November 3, 2011
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Don Bateman, chief engineer and corporate fellow at Honeywell, is one of five inventors to receive this year’s National Medal of Technology from U.S. President Barack Obama. The recognition is the highest honor bestowed by the U.S. government on scientists, engineers, and inventors. Bateman is being honored as a laureate for developing and championing critical flight-safety sensors now used by aircraft worldwide, including ground proximity warning systems and wind-shear detection systems. Read more about the award.
Bateman is widely recognized in the industry as a pioneer of flight safety systems and products. Many of the technologies he first envisioned and designed proceeded through production and certification, such as the angle of attack systems, stall warning systems, ground proximity warning systems (GPWS), automatic throttle, reactive wind shear warning systems, and radar. He is the inventor or co-inventor of more than 50 U.S. patents and 90 foreign patents, and is a recipient of numerous industry awards including induction into the National Inventors Hall of Fame, the Laura Tabor Barbour Air Safety Award, Admiral Luis de Florez Safety Award, and the Flight International Aerospace Industry Personality of the Year. His dedication to aviation safety is strengthened by his personal love of flying — he has logged more than 2,200 flight hours as a private pilot.
Posted on Tuesday, November 1, 2011
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Honeywell announced that its Board of Directors has approved a 12% increase, or $0.16 per share, in the company’s regular annual cash dividend rate from $1.33 to $1.49 per common share ($0.3725 per share on a quarterly basis). The increased regular quarterly dividend rate will be effective starting with the fourth quarter dividend, which was declared today and is payable on December 9, 2011 to shareowners of record at the close of business on November 18, 2011.
“The strength of our business performance year-to-date and our expectations for continued good organic sales growth, EPS expansion, and cash flow generation led to the decision to increase the dividend rate by 12%, compared to the historical 10% increase, and accelerate the effective date to the fourth quarter of this year,” said Honeywell Chairman and CEO Dave Cote. “Our strategies for smart cash deployment, including reinvestment in our businesses, disciplined M&A, dividend growth, and opportunistic share repurchases, will continue to be drivers of shareowner value.”
Posted on Friday, October 28, 2011
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Honeywell Chairman and CEO Dave Cote discussed the need for an American Competitiveness agenda that would help the U.S. deficit and job market outlook on ‘Nightly Business Report’ on PBS News.
Cote, a member of President Obama’s National Commission on Fiscal Responsibility and Reform, said that there are six points to an American Competitiveness agenda that would alleviate the national deficit and create jobs.
“The first is resolving our long-term debt problem,” said Cote. “The second is actually having an energy policy. The third is math and science education. The fourth is infrastructure. The fifth is free trade and a more comprehensive nuanced relationship with China. Then the sixth is tort reform. And these are all meaty issues to address with the biggest, most imminent one being debt.”
For more information, read the full transcript from the interview or a recent speech by Cote on an American Competitiveness agenda.
Posted on Wednesday, October 26, 2011
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