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Honeywell And Samsung SDI Sign Memorandum Of Understanding To Advance Liner Technology For Refrigerators

MORRIS TOWNSHIP, N.J., Sept. 15, 2015 Honeywell (NYSE: HON) and Samsung SDI Inc. (SDI) announced today the signing of a memorandum of understanding (MOU) for strategic collaboration on the development and promotion of SDI's new refrigerator liner material, designed to be compatible with foam insulation made with Honeywell's new low-global-warming-potential insulating material.
The material, Solstice ® Liquid Blowing Agent (LBA), is the critical ingredient in closed-cell insulation, used to create energy efficient appliances such refrigerators and freezers. In addition to being a highly efficient insulator, the blowing agent has an ultra-low global-warming-potential (GWP) of 1, which is 99.9 percent lower than traditional blowing agents and equal to carbon dioxide.Under terms of the agreement, South Korea-based SDI and Honeywell will work cooperatively to further commercialize SDI's breakthrough starex ® EU-0191' refrigerator liner material with appliance OEMs around the world. Starex is the first commercial acrylonitrile butadiene styrene (ABS) refrigerator liner material compatible with Solstice LBA. SDI's ABS liner material is under evaluation at several other OEMs worldwide."As refrigerator OEMs in Asia and elsewhere prepare to adopt foam insulation made with low GWP blowing agents such as Solstice LBA, it became important to develop an ABS liner material that is fully compatible with this new low global warming technology," said William Shin, general manager at Samsung SDI. Generally, ABS resins are preferred over other liner materials where customers demand a thinner liner and prefer the high-gloss look and feel of ABS."This agreement builds on an already strong foundation of collaboration between Honeywell and SDI," said Bryan Magnus, global business manager for Honeywell's foam blowing agents business. "As the leader in low GWP blowing agents, it is another example of our commitment to helping our customers deliver energy-efficient and high-performance solutions with our line of Solstice products."Compared to HFC blowing agents, Solstice LBA increases the insulating performance of the system, helping manufacturers comply with environmental and energy efficiency regulations.Solstice LBA is non-ozone-depleting, nonflammable and is Volatile Organic Compound (VOC)-exempt per the U.S. Environmental Protection Agency (EPA). It has received approval under the EPA's Significant New Alternatives Policy (SNAP) Program, the European Union's REACH program and other chemical registration requirements globally.Leading appliance companies such as Whirlpool in U.S. and the top three Chinese appliance OEMs (Midea, Hisense and Haier), as well as spray foam insulation producers (Lapolla, Henry, Elastochem) and panel producers (CIMC, Kingspan) are adopting Solstice LBA to meet customer demand and comply with evolving climate and energy efficiency regulations.Honeywell also manufactures Solstice Gas Blowing Agent, which replaces HFC-134a as a foam blowing agent in insulation for commercial appliances and board insulation for homes and buildings.Solstice products are commercially available from Honeywell's Fluorine Products business, a leader in the manufacture and supply of non-ozone-depleting refrigerants used by top air-conditioning and refrigeration makers worldwide, as well as hydrofluoric acid and precursors for nuclear fuel.Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, process technologies and automation solutions. PMT's Advanced Materials businesses manufacture a wide variety of high-performance products, including environmentally friendlier refrigerants 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 ProcessSolutions business (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.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 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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