New Flexible Production Line at Existing Chesterfield, Va., Site to Produce Polymer for Packaging Film,Other Applications
MORRIS TOWNSHIP, N.J.
, April 29, 2014 Honeywell (NYSE: HON) Resins and Chemicalsannounced today that it will expand production capacity at its Chesterfield, Va., facility to meet demandfor high-grade nylon polymers for packaging film and other applications.The new production line will be able to produce both nylon 6 and copolymer nylon 6/6.6 resins,with flexibility to produce either or both as needed to match customer demand. The new line will have acapacity of 40,000 metric tons per year and is expected to start production in the fourth quarter of 2015,expanding capacity at the facility to 200,000 metric tons per year."We continue to invest in the production capabilities to meet our global customers' current andfuture needs, and this new production line will provide greater flexibility to produce both nylon 6 andnylon 6/6.6 as required," said Qamar Bhatia, vice president and general manager of Honeywell Resinsand Chemicals. "As a fully integrated nylon 6 producer, Honeywell remains well positioned as a reliableand competitive supplier to customers worldwide."Honeywell's resins, sold under the Aegis®brand name, are used in diverse applications such asfibers and filaments for carpeting, fabrics, nets and cords; engineered plastic components for automotive,consumer and industrial applications; and films for food and protective packaging. For food packagingapplications, Aegis resins provide excellent barrier properties to oxygen, helping to retain flavor andmaintain product freshness.Honeywell Resins and Chemicals is also a major producer and global supplier of caprolactam, amerchant-grade, nylon 6 intermediate used in a range of applications, including carpet, textiles,engineering plastics, films and industrial filament. The Honeywell plant in Hopewell, Va., with acapacity of 350,000 metric tons of caprolactam per year, is one of the largest single-site caprolactamproduction facilities in the world. Honeywell caprolactam is sold globally and shipped either in molten orflake form to a variety of downstream customers.Resins and Chemicals offers more than a half-century of technology and customer-focusedapplication development expertise, and continues to invest in its research and development capabilities toenable sustainable growth worldwide. The business also conducts nylon-related research anddevelopment at technology centers in New Jersey and Virginia, where it operates laboratory-scalepolymer reactors and blown film equipment, as well as in Shanghai, China, where the business recentlyinstalled a laboratory-scale multilayer coextrusion cast film line and has extensive analytical capabilitiesfor resin development.In addition to caprolactam and resins, Honeywell Resins and Chemicals sells chemicalintermediates, including phenol, cyclohexanone and acetone. It is also a major producer of ammoniumsulfate fertilizer, a co-product of caprolactam production, which is sold under the Sulf-N®brand.Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advancedmaterials, process technologies and automation solutions. PMT's Advanced Materials businessesmanufacture a wide variety of high-performance products, including environmentally friendlierrefrigerants and materials used to manufacture end products such as bullet-resistant armor, nylon,computer chips and pharmaceutical packaging. Process technologies developed by PMT's UOP business(www.uop.com) form the foundation for most of the world's refiners, efficiently producing gasoline,diesel, jet fuel, petrochemicals and renewable fuels. PMT's Process Solutions business(www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oiland gas, refining, pulp and paper, industrial power generation, chemicals and petrochemicals, biofuels,life sciences, and metals, minerals and mining industries.Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, servingcustomers worldwide with aerospace products and services; control technologies for buildings, homes andindustry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are tradedon the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, pleasevisit www.honeywellnow.com.This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21Eof the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, eventsor developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the futureare forward-looking statements. Such statements are based upon certain assumptions and assessments made by ourmanagement 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 thisrelease 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-lookingstatements are not guarantees of future performance, and actual results, developments and business decisions may differ fromthose envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect ourperformance in our Form 10-K and other filings with the Securities and Exchange Commission.