Honeywell Wins $1.32 Million Contract With Major Korean Ethylene Producer
Honeywell Technology Will Improve Process Reliability, Increase Production at Three Plants
PHOENIX - - Honeywell has received a $1.32 million contract with Korean petrochemical company Yeochun NCC Company, Ltd. (YNCC) for an automation project at its three ethylene production plants. Honeywell Profit® Suite will help Yeochun respond to China's increasing demand for ethylene-based products by increasing the plants' production capacity, reducing production costs and enhancing process reliability without investing in new hardware.
"We selected Honeywell as a long-term partner based on the company's technical superiority and various process solutions," said Kim DongTaek, Technical & Planning Department manager at the YNCC plant. "We expect partnering with Honeywell will significantly strengthen our competitiveness in the ethylene market and provide us with profitable growth through optimized operation and reduced energy costs."
According to the terms of the agreement, Honeywell will supply Profit Suite at YNCC's three ethylene plants, and provide engineering services at plant No. 3. Profit Suite is a comprehensive collection of advanced applications that delivers solutions that address every aspect of modern process plant operations, from regulatory control to plant-wide optimization. YNCC will use core elements of the suite, including:
- Profit Controller. Based on Honeywell's patented robust multivariable predictive control technology, this comprehensive package provides all of the necessary tools to design, implement, and maintain multiple-input/multiple-output applications to drive processes to maximum economic benefit.
- Profit Optimizer. Honeywell's patented breakthrough technology, Profit Optimizer spans multiple process units or entire process plants to deliver improved plant profitability and overall plant control. By accounting for constraints and economics between operating units, Profit Optimizer can implement optimal operating conditions without violating global plant constraints. It also dynamically coordinates the introduction of optimal setpoints for a smooth transition to optimal operation.
- Profit Bridge. As an integral part of Honeywell's layered optimization solution, Profit Bridge automatically extracts information from non-linear models and regularly updates the control and optimization models to reflect this information. The result is improved control and optimization benefits, since varying conditions can be accounted for automatically.
"This win is particularly significant because we're able to address YNCC's needs using our advanced technology solutions, even though none of the company's plants is outfitted with Honeywell control system components," said Desmond Teo, vice president of Asia-Pacific for Honeywell Process Solutions. "We're excited to build our presence and enhance our credibility in this growing market by helping one of the region's premiere ethylene producers overcome operational challenges."
YNCC is the largest ethylene producer in the Asia-Pacific region. Established in 1999 as a joint venture between Daelim and Hanwha, YNCC produces the basic feedstock materials for petrochemical products. In addition to producing ethylene, it supplies propylene, benzene, toluene, xylene, styrene monomer and butadiene to both domestic and overseas markets.
Honeywell International is a $26 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. For additional information, please visit www.honeywell.com. Honeywell Process Solutions is part of Honeywell's Automation and Control Solutions group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Process Solutions, access www.honeywell.com/ps.
Source: Honeywell International