UOP LLC, a subsidiary of Honeywell International Inc. (HON) recently announced that it will be supplying process technology and modular equipment to hydro skimming refinery Pakistan Refinery Limited (PRL) for increasing the production of gasoline.
With this new technology, PRL will be able to convert naphtha, which it currently exports, to high-octane gasoline. Additionally for PRL's Penex unit, UOP will provide catalyst, adsorbent, engineering and technical support. For extended catalyst life, it will also provide a drier regeneration control system which will process 5,000 barrels per day of light naphtha. The unit is expected to start by mid-2015. A modularized solution for PRL's Penex unit is expected to meet the quality standards and make on-time delivery at cost-effective ways.
The technology from Honeywell is well suited to meet the rising demand for gasoline. This technology will help PRL to produce isomerate, a high-value gasoline blending component. Honeywell's UOP process technology reduces costs, generates high returns on investment and has the smallest environmental footprint with reduced emissions.
The UOP modular units are much more competitive than other similar units in the market, can withstand adverse weather conditions and are in line with the quality and specifications. These units can reduce onsite installation time thereby enabling to start a project earlier than its required time. UOP already has sold 220 Penex units and its isomerization catalysts have been loaded into more than 300 units globally.
Honeywell offers a wide range of aerospace products and services; control, sensing and security technologies for buildings, homes and industry; turbochargers; automotive products; specialty chemicals; electronic and advanced materials; process technology for refining and petrochemicals; and energy-efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Noble Group Ltd. (NOBGY), 3M Company (MMM) and CLARCOR Inc. (CLC). While Noble Group holds a Zacks Rank #1 (Strong Buy), 3M Company and CLARCOR Inc carry a Zacks Rank #2 (Buy).
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