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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Hengli Petrochemical Co.,Ltd.    600346   CNE0000018V0

HENGLI PETROCHEMICAL CO.,LTD.

(600346)
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Hengli Petrochemical : Honeywell UOP Polybed PSA Units Supplying High-Purity Hydrogen For Hengli Petrochemical

09/22/2020 | 10:47am EST

DES PLAINES - Honeywell UOP announced today that Hengli Petrochemical Co. Ltd. successfully started up seven UOP Polybed pressure swing adsorption (PSA) units supplying high-purity hydrogen at its complex in Dalian, Liaoning, China.

As a fully integrated site, the complex produces gasoline and diesel, along with plastics and other chemicals. Hengli will use the PSA units in downstream hydrotreating to create feedstock for petrochemical products, producing approximately 1.4 million Nm3/h (normal cubic meters per hour) of hydrogen.

'Hydrogen purification is essential to produce clean fuels, remove contaminants and improve the quality of fuels and petrochemicals,' said Bryan Glover, vice president and general manager, of the UOP Process Technologies business. 'Customers such as Hengli are choosing UOP PSA technology because of its record of producing a reliable and efficient source of high-purity hydrogen to improve the efficiency of their operations.

Polybed PSA systems are skid-mounted, modular units complete with hardware, adsorbents, control systems and embedded process technology, enabling quick and efficient installation to reduce cost and downtime. Modular delivery can reduce the installation time by up to 30%, versus conventional 'stick-built' construction.

The PSA process uses proprietary UOP adsorbents to remove impurities at high pressure from hydrogen-containing process streams, allowing hydrogen to be recovered and upgraded to more than 99.9% purity to meet refining needs. In addition to recovering and purifying hydrogen from steam reformers and refinery off-gases, the Polybed PSA system can be used to produce hydrogen from other sources such as ethylene off-gas, methanol off-gas and partial-oxidation synthesis gas.

Since its introduction in 1966, UOP has improved Polybed PSA technology with new generations of adsorbents, enhanced cycle configurations, modified process and equipment designs and more reliable control systems and equipment. Today, Honeywell UOP has installed more than 1,100 Polybed PSA units in more than 70 countries. As a result, Polybed PSA is a proven technology with dozens of large-scale unit references globally.

Hengli Petrochemical, established in 1994, is one of the largest refining and petrochemical companies in China. In 2017, Hengli selected Callidus advanced flares and low-nitrogen oxides (NOx) burner technology for its refinery and petrochemicals complex.

Honeywell UOP (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions (www.honeywellprocess.com), a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.

Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry specific solutions that include aerospace products and services; control technologies for buildings and industry and performance materials globally. Our technologies help everything from aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

Contact:

Tehani Manochio

Tel: (973) 216-0684

Email: Tehani.manochio@honeywell.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 134 B 20 440 M 20 440 M
Net income 2020 12 932 M 1 967 M 1 967 M
Net Debt 2020 75 357 M 11 459 M 11 459 M
P/E ratio 2020 14,2x
Yield 2020 2,16%
Capitalization 184 B 27 922 M 27 927 M
EV / Sales 2020 1,93x
EV / Sales 2021 1,56x
Nbr of Employees 26 506
Free-Float 22,8%
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Number of Analysts 16
Average target price 24,73 CNY
Last Close Price 26,09 CNY
Spread / Highest target 22,7%
Spread / Average Target -5,21%
Spread / Lowest Target -19,5%
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Hong Wei Fan Chairman & General Manager
Wei Ming Wang Chairman-Supervisory Board
Xue Fen Liu Chief Financial Officer & Deputy General Manager
Feng Li Secretary, Director & Deputy General Manager
Li Li Independent Director
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