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Honeywell Announces Worldwide Patent Cross-License Agreement with Cabot Corporation

TEMPE, Ariz., Dec. 15, 2005 -- Honeywell (NYSE: HON) Electronic Materials today announced it has signed a global patent cross-license agreement with Cabot Corp. (NYSE: CBT) regarding tantalum (Ta) materials and products for the semiconductor industry.

The agreement will allow Cabot, a supplier of Ta source metal, and Honeywell, a manufacturer of Ta physical vapor deposition (PVD) sputtering targets for semiconductor chip production, to tap into the broader combined Ta patent portfolio to better serve semiconductor manufacturing customers. The combined portfolio includes fourteen patents globally related to the production of high-purity Ta metals and sputtering targets.

“This agreement is significant for both Honeywell and Cabot, but, more importantly, represents a win for our customers,” said Barry Russell, vice president and general manager of Honeywell Electronic Materials. “It allows Honeywell to provide the most advanced Ta metal technology to semiconductor manufacturers for leading edge chip production.”

The importance of Ta for semiconductor manufacturing has increased due to the increased use of copper (Cu) interconnect – the extremely fine metal lines which conduct the electrical current throughout the chip – in advanced designs. Ta metal is used by manufacturers as a barrier layer that prevents unwanted diffusion of Cu into surrounding materials.

One of the most widely used methods of applying metals in chip production is through the PVD process, in which metal from a sputtering target is vaporized and deposited on the chips as a thin film. Honeywell Electronic Materials is a leading global manufacturer of sputtering targets for the semiconductor industry. Honeywell owns and operates its own metal refining and purification processes, ensuring the industry with the most consistent product control down to the submicron level. Honeywell also manufactures and supplies coil sets used to increase PVD process efficiency, as well as precious metal thermocouples used as very precise temperature sensing devices in diffusion furnaces.

Honeywell Electronic Materials is a top supplier of chemicals to the semiconductor industry, including straight and customized electronic chemicals, spin-on dielectrics, and other advanced spin-on materials that enable the integration of cutting edge processes at customer sites. Honeywell also manufactures materials used during back-end packaging processes for thermal management and electrical connectivity of semiconductor chips.

Cabot Corp., headquartered in Boston, Mass., is a global specialty chemicals and materials company whose major products are carbon black, fumed silica, inkjet colorants, capacitor materials, and cesium formate drilling fluids.

Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor’s 500 Index. For additional information, please visit www.honeywell.com.

Honeywell Specialty Materials, based in Morristown, N.J., is a global leader in providing customers with high-performance specialty materials, including fluorocarbons, specialty films and additives, advanced fibers and composites, customized research chemicals, and electronic materials and chemicals.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.

Contacts:

Peter Dalpe
Honeywell Specialty Materials 
(973) 455-4908 
peter.dalpe@honeywell.com

Lance Chapman
Honeywell Electronic Materials
(408) 962-2098
lance.chapman@honeywell.com


 

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