Honeywell Resins and Chemicals Breaks Ground On New Resin Manufacturing Line In VirginiaState-of-the-art production line will be only North American source of key food packaging resins
MORRIS TOWNSHIP, N.J
, June 9, 2015 Honeywell (NYSE: HON) Resins and Chemicalsannounced today that it has broken ground on its new nylon resins production line at its Chesterfield, Va.,manufacturing facility.The new production line can produce multiple grades of Honeywell Aegis®nylon 6 resins, as wellas copolymer nylon 6/6.6 resins, both of which are used in food packaging films and other applications.When the line starts up in the fourth quarter of 2015, Honeywell's Chesterfield facility will become thefirst and only North American supplier of both resins.Honeywell announced in April 2014 its plans to build the new line, which will expand themanufacturing capacity of the Chesterfield facility by 40,000 metric tons to 200,000 metric tons per year."Honeywell has been committed to the nylon market for more than 60 years, and we are investingin expanding our capabilities and developing new technologies," said Erin Kane, vice president andgeneral manager of Honeywell Resins and Chemicals. "Our position as the only fully-integrated NorthAmerican manufacturer of both nylon 6 and copolymer nylon 6/6.6 will provide film manufacturers witha more secure resin supply than they have today."Approximately 10 billion pounds of food packaging film is produced in North America annually,and the use of nylon films on the continent is growing at a compound annual growth rate of 4.5 percent,according to Freedonia Group, a business research company.The expansion will also showcase technologies developed by other Honeywell businesses,including Experion®PKS distributed process control systems from Honeywell Process Solutions.Nylon packaging films made with Aegis®resins provide excellent barrier properties to oxygen,helping to retain flavor and maintain product freshness. In addition to food packaging films, Aegis resinsare used in automotive, consumer and industrial applications spanning from carpeting and fishnet toplastic parts. Honeywell Resins and Chemicals also manufactures nylon films under the Aegis andCapran®brands for use in food packaging, as well as industrial applications ranging from wind turbineblades to aerospace components.Through its nylon manufacturing operations, Honeywell Resins and Chemicals produces manychemical intermediates, including phenol, Nadone®cyclohexanone, Naxol®cyclohexanol, acetone andcaprolactam. The business also manufactures Sulf-N®ammonium sulfate fertilizer, a co-product ofcaprolactam production. Honeywell's plant in Hopewell, Va., with a capacity of 350,000 metric tons ofcaprolactam per year, is one of the world's largest caprolactam and ammonium sulfate plants.In addition to manufacturing, the business also conducts nylon-related research and developmentat technology centers in New Jersey and Virginia, where it operates laboratory-scale polymer reactorsand blown film equipment, as well as in Shanghai, China, where the business has extensive analyticalcapabilities for resin development.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,serving customers worldwide with aerospace products and services; control technologies for buildings,homes, and industry; turbochargers; and performance materials. For more news and information onHoneywell, please visit 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.