News Spotlight: Honeywell (NYSE:HON)

On Tuesday Honeywell (NYSE:HON) traded with change of 0.7% on volume of 1816952 shares in the last session as compared to average volume of 2765956 shares. During last trade its minimum price was $181.1 and it gained highest price of $183.12. HON has total market capitalization of $130052147404. Its closing value stands at $182.01.

On Nov. 12, 2019, Honeywell (NYSE:HON) disclosed that Kuwait Integrated Petroleum Industries Company (KIPIC) has selected Honeywell Process Solutions (HPS) to be the main automation contractor for its new Petrochemicals and Refinery Integration Al Zour Project (PRIZe). Under the agreement, HPS will provide KIPIC with front-end engineering design and advanced process control technology for the complex, which will help KIPIC expedite production start-up and assist with reaching production targets faster and more efficiently.

The PRIZe project will become the first integrated refining and petrochemicals complex in Kuwait. The new facility – developed as part of the Al-Zour Complex – will significantly enhance Kuwait’s domestic petrochemicals, aromatics and gasoline manufacturing capabilities.

The PRIZe project will revolutionize Kuwait’s domestic production capabilities, helping KIPIC meet the increasing demand for fuels and petrochemical products within the country, said Hatem Al-Awadi, acting chief executive officer, KIPIC. With Honeywell’s support, we are building a strategic project that will transform Kuwait’s domestic oil and gas market, and provide a significant accelerator for the country’s long-term economic development by improving gasoline and benzene supply to the local and international markets.

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