Honeywell (NYSE: HON) announced it has signed two agreements with Chinese partners to advance cooperation in China’s oil and gas and aviation industries. The two agreements were signed during U.S. President Donald Trump’s visit to China, and in the presence of representatives of the U.S. and Chinese government, as well as executives from the related companies.
“The two agreements mark another significant milestone in the relationship that Honeywell has had with China since first establishing itself here in 1935,” said Shane Tedjarati, President of Honeywell Global High Growth Regions. “Honeywell has made a longstanding commitment to China, and we greatly value our presence here. We are committed to Being the Chinese Competitor, and to providing world-class products and solutions to the Chinese marketplace.”
Oriental Energy to Collaborate with Honeywell UOP on PDH Projects
Honeywell UOP and Oriental Energy Co., Ltd. have signed a memorandum of understanding on the adoption of UOP’s C3 Oleflex™ units in Oriental Energy’s five new Propane Dehydrogenation (PDH) projects to help convert propane into propylene. The total propylene production capacity for those five projects combined will reach 3 million tons per year, helping Oriental Energy become the largest on-purpose PDH producer in the world. These projects will all be located along coastal cities, including Ningbo and Lianyungang.
Spring Airlines Selects Honeywell Technology for New Airbus A320neo Fleet
China’s Spring Airlines selected Honeywell’s suite of advanced cockpit technologies and industry-leading auxiliary power units for its future fleet of Airbus A320neo aircrafts. The Honeywell technologies will save Spring Airlines money while enabling safer and more efficient flight operations.
All of Honeywell’s four strategic business groups are represented in China, with the company’s Asia-Pacific headquarters located in Shanghai. Over the years, Honeywell has set up subsidiaries and joint ventures in more than 30 cities across the country. Honeywell employs approximately 13,000 people in China, including more than 2,600 in R&D.