ISTANBUL, Turkey, Nov. 10, 2014 Honeywell (NYSE:HON) Process Solutions announced today it will upgrade controls at two refineries run by Turkey's largest company as part of a five-year service, maintenance and support contract aimed at improving operations and reducing maintenance costs.
Under the terms of the agreement with Tüpraş, Turkey's largest industrial enterprise, Honeywell will upgrade existing systems at the company's Aliaga refinery and provide maintenance, support and parts management for the Honeywell equipment at that facility and at the company's refinery at Batman. Honeywell will provide round-the-clock support and a resident engineer to provide quicker response times, adding to overall savings on maintenance. The agreement runs through 2018.In 2013, Honeywell updated one of the largest control systems at the Izmir Refinery, migrating it to Honeywell's Experion® control system.
The contract will improve plant performance while reducing maintenance costs for the refineries' Honeywell control systems by 15 to 20 percent.
"Industry-leading service contracts go well beyond maintaining any required technology upgrades," said John Rudolph, vice president of Honeywell Process Solutions. "They include ongoing expertise and support from technical experts to optimize performance and keep a plant running efficiently throughout the automation lifecycle."
"Honeywell was the only automation vendor to provide a lifecycle management contract that goes beyond simple maintenance activities," said Osman Demir, Tüpraş Contracts and Procurement coordinator (former Maintenance Superintendent). "The contract lets us meet one of our major challenges in constructing an efficient long-term plan for migrations while also giving us certainty for our financial plan. It means we can reduce the risk of any nasty surprises from maintenance for these systems."
For further details about Honeywell's lifecycle management solutions 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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