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OFFON

HONEYWELL INTERNATIONAL INC.

(HON)
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Honeywell International : and Saipem team up to implement digital solutions for urea production technology

10/20/2021 | 08:53am EST

San Donato Milanese - Honeywell (NASDAQ: HON) and Saipem have signed an agreement for product development and commercialization of a 'Digital Twin' as part of Saipem's SnamprogettiTM Urea technology.

The solution will be developed on Honeywell Forge, Honeywell's enterprise performance management solution, to enable customers to improve the production of urea through virtual simulation of key processes.

The new service will be commercialized with Saipem's brand and powered by Honeywell Forge. Saipem will be responsible for the management and technical support of the digital tool, involving Honeywell on a demand basis. Honeywell's digital twin solution will also be used as a virtual model to guide engineers with actionable insights into machine performance and maintenance needs in order to optimize plant production of urea.

The Honeywell Forge solution, deployed in more than 60 process units worldwide, will enable Saipem to provide real-time response on plant operational management, to collect data for monitoring and predictive maintenance, to contribute to the optimization of its clients' operations and to deliver more value to stakeholders. The solution will allow Saipem to remain in close contact with its clients, even after plant delivery, to modernize its offering as a licensor and to collect feedback regarding plant performance.

About Honeywell

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 aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

Contact:

Jennifer Marsh

Tel: (404) 859-2506

Email: jennifer.marsh@honeywell.com

About Saipem

Saipem is an advanced technological and engineering platform for the design, construction and operation of safe and sustainable complex infrastructure and plants. Saipem has always been oriented towards technological innovation and is currently committed, alongside its clients, on the frontline of energy transition with increasingly digitalised tools, technologies and processes that were devised from the outset with environmental sustainability in mind. It is listed on the Milan stock exchange and is organised into five business divisions (E&C Offshore, E&C Onshore, Drilling Offshore, Drilling Onshore and XSIGHT for consulting and engineering services in the initial phases of projects). It operates in over 60 countries around the world with 32 thousand employees from 130 different nationalities

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HONEYWELL INTERNATIONAL INC. 1.43% 206.41 Delayed Quote.-4.33%
SAIPEM S.P.A. 0.50% 1.799 Delayed Quote.-18.37%
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Financials (USD)
Sales 2021 34 577 M - -
Net income 2021 5 613 M - -
Net Debt 2021 8 626 M - -
P/E ratio 2021 25,4x
Yield 2021 1,86%
Capitalization 140 B 140 B -
EV / Sales 2021 4,30x
EV / Sales 2022 3,99x
Nbr of Employees 103 000
Free-Float 71,9%
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 203,50 $
Average target price 240,70 $
Spread / Average Target 18,3%
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Managers and Directors
Darius Adamczyk Chairman & Chief Executive Officer
Gregory P. Lewis Chief Financial Officer & Senior Vice President
Krishna Mikkilineni SVP-Engineering Operation & Information Technology
Suresh Venkatarayal Chief Technology Officer
Victor J. Miller Secretary, Chief Compliance Officer & VP
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