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4/21/2013 
Honeywell Gearing Up To Support Increased Demand For Turbochargers In China Following State Council Announcement 

 

SHANGHAI – April 21, 2013 – Technologies developed by Honeywell (NYSE: HON) Turbo Technologies are set to accelerate turbocharger growth in China during the next five years following a recent policy announcement from China’s State Council focused on energy conservation and pollution reduction.


This policy prioritization is calling for an increased focus on internal combustion engine efficiency and highlighting turbocharging as a key enabling technology. Turbochargers are an enabler of engine downsizing helping to improve fuel economy – from 20 to 40 percent -- and emissions from the larger naturally-aspirated engines they replace and also capable of enhancing horsepower and torque for improved drivability. Honeywell Turbo Technologies, the global leader in turbochargers, expects sales of turbo vehicles in China to double from 4 million units in 2012 to 8 million units in 2017.


“We see a significant acceleration in turbocharged engine developments across the board, coming from all customers, segments and fuel types,” said David Paja, Honeywell Transportation Systems vice president and general manager, China and India. “Honeywell is uniquely positioned for this opportunity, as customers value our unique product breadth, technology leadership and strong local presence.”


A lot of the growth will come from gasoline passenger cars, as penetration increases from 10 percent today to more than 20 percent in the next five years. A smaller boosted gasoline engine can achieve better fuel economy than the larger engine it replaces – while maintaining same engine performance. Honeywell recently launched its second generation of gasoline turbos in China on the Fiat Viaggio 1.4L and is working on more than 15 new launches during the next two years.


In addition, the automotive industry will also see a significant change in diesel engine technology, as a result of turbo penetration increases in passenger vehicles, light commercial vehicles and off-highway equipment. Honeywell expects adoption of advanced variable geometry VNT diesel technology to grow from less than 5 percent today to more than 20 percent during the next five years.


VNT technology delivers exceptional value to diesel customers especially for SUV and light commercial vehicle applications. VNT turbos can help an engine produce up to 30 percent higher engine torque, improve fuel economy by up to 5 percent and comply with new Euro 4 emission standards.


“With more than 50 million VNTs globally on the field, Honeywell is supporting customers such as Great Wall, Jiangling, Jianghuai to adopt this technology in China,” said Paja.

 

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.


Honeywell has a long history in China that goes back to 1935 when it established the first franchise in Shanghai. Today, all of Honeywell’s four Strategic Business Groups are represented in China, and all of them have relocated their Asia Pacific headquarters to China. Over the years, Honeywell has set up subsidiaries and joint ventures in more than 20 cities across the country. Honeywell employs approximately 12,000 people in China. For more news and information on Honeywell in China, please visit www.honeywell.com.cn.


This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

 

Media:                                                                       

Claire Jin                                                              Mike Stoller

+86 21 22196515                                                  +1 734 392 5525

claire.jin@honeywell.com                                       michael.stoller@honeywell.com

 

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