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  • Honeywell Enhances Refining and Petrochemical Planning Solution

Honeywell Enhances Refining and Petrochemical Planning Solution

August 10, 2017

HOUSTON, April 22, 2014 Honeywell ( NYSE:HON) today announced a major enhancement to its Refinery and Petrochemical Modeling System (RPMS) that will improve model building and maintenance, case management, and optimization to help plants maximize profitability. The new release, RPMS 500, incorporates analytics software that is based on the company's innovative Intuition® process management to better apply planning results.
RPMS also helps refining and petrochemical firms assess their long-term investment options and understand the critical differences in potential yield and value of various feedstocks, as well as determining the best operating conditions over the planning horizon.
"RPMS Release 500 preserves the rich capability of RPMS while making it easier and more efficient to work with," said Patrick Kelly, product director, Honeywell Process Solutions. "It also makes it simpler to build and maintain refinery planning models, and generate and review production plans. That helps provide information to help operators make the best production decisions. It includes a web-based tool that makes it easier for the broader organization to access and analyze the information."
Key new features with the RPMS 500 release include support for Windows™ 7/8 64-bit platforms, as well as tools to simplify migration to the current software version. Other enhancements provide improved case management, a new graphical user interface, HTML-based reporting, and improved optimization capabilities.
These tools are critical to optimizing the overall profitability of refining and petrochemicals operations and RPMS helps to drive and sustain improved profitability by enabling clients to assess more options and align the organization more effectively to the plan. Effective planning is critical to help today's process industries increase profitability. RPMS helps enable development and analysis of advanced mathematical programming models, utilizing linear programming (LP) optimization to answer key business questions related to raw material purchases, product specifications, plant operation, and distribution and logistics.
For more information, please visit www.honeywellprocess.com.
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Honeywell Process Solutions ( www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes UOP, a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.
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.
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Honeywell today announced a major enhancement to its Refinery and Petrochemical Modeling System (RPMS) that will improve model building and maintenance, case management, and optimization to help plants maximize profitability.