Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

UOP LLC, a subsidiary of Honeywell International Inc. (HON - Analyst Report), recently won a contract from Ascend Performance Materials Operations LLC, a global leader in the production of Nylon 6, for an undisclosed amount to provide C3 Oleflex process technology for one of its propylene production facility located on the U.S. Gulf Coast.

The UOP C3 Oleflex process technology is a propane dehydrogenation (PDH) process, which will be used by Ascend to convert propane to propylene. Propylene is used in the production of packaging and other similar types of materials like nylon. Additionally, Honeywell's UOP will also provide equipments as well as technical and other services to the U.S. Gulf Coast facility. The Ascend project is the 14th Oleflex project of Honeywell’s UOP since 2011 and is expected to produce more than 1 million metric tons of propylene annually, beginning 2015.

The technology from Honeywell is well suited to meet the rising demand for propylene across the world. As the demand for petrochemicals is increasing, producers are on the look-out for ways to maximize product yield and reduce production costs. The excellent performance of Honeywells’ UOP C3 Oleflex process technology is a likely solution to this, as it reduces costs, generates high returns on investment and maximizes operational flexibility. The global demand of propylene is expected to increase 4%-5% annually. The combined Oleflex projects of UOP are expected to increase propylene production by 7 million metric tons globally in the coming three years.

Honeywell is a global diversified technology and manufacturing company with 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 #2 (Buy). Other stocks that look promising in the industry and are worth a look now are ITT Corporation (ITT - Analyst Report), Compass Diversified Holdings (CODI - Snapshot Report) and Macquarie Infrastructure Company LLC, Inc (MIC - Snapshot Report), each carrying a Zacks Rank #2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%