• Plant has produced more than two million brake pads already since opening in late 2012
• Honeywell celebrates today the company’s newest commitment to Romania in the presence of Prime Minister Victor Ponta
PLOIESTI, Romania – Oct. 8, 2013 – Honeywell (NYSE: HON) Transportation Systems is celebrating today the growing success of its newest Friction Materials manufacturing facility in Ploiesti, Romania, having just achieved the production milestone of two million brake pads. The state-of-the-art manufacturing facility is a key component of Honeywell’s commitment to transform the friction business and improve its competitive position with a high-tech global footprint while building on its investment in Romania.
The Ploiesti plant began operations in November, 2012, and is well on its way toward achieving its annual production target of more than 10 million brake pads. The brake pad manufacturing facility in Romania is Honeywell’s first in Europe dedicated to exclusively using the Hot Press manufacturing technology to increase product quality, deliver energy efficiency, and decrease delivery time for its customers.
“This high-tech facility in Ploiesti is the latest expression of Honeywell’s commitment to transforming its Friction Materials business, and also to Romania as another example of a high-value, high-quality investment in the country,” said Terrence Hahn, president and CEO of Honeywell Transportation Systems. “Honeywell has enjoyed success in Romania for more than 15 years. The addition of this Friction facility to our existing turbocharger plant in Bucharest – which is our largest turbo plant in the world – is feeding the growth strategies of Honeywell Transportation Systems within the region and around the world.”
The new site in Ploiesti was designed to be more than 14,000 square meters of covered construction and will create more than 300 new jobs in the area. The plant uses new state of-the-art Hot Press machinery and processes to make original equipment brake pads for light duty passenger vehicle applications, largely for European automotive manufacturers.
Honeywell has created valuable employment opportunities for more than 2,200 people in Romania including its Transportation Systems turbo plant and operations under Honeywell’s Automation and Control Solutions strategic business group. Honeywell has made significant investments in not only manufacturing but also research and development centers, as well as engineering capabilities in Romania, making the country a key contributor and beneficiary of Honeywell’s business investments.
Honeywell has been a consistent top exporter and continues to grow its position with the new Ploiesti site. With company operations dating back 15 years, Honeywell has a record of continuous training of employees and upgrading of sites, helping grow local suppliers, and supporting macro-trends of energy efficiency, safety & security, and clean energy generation.
About Honeywell Transportation Systems
Honeywell Transportation Systems is a strategic business group of Honeywell and is comprised of Honeywell Turbo Technologies (http://turbo.honeywell.com) and Honeywell Friction Materials (http://www.honeywell-frictionmaterials.com) . Honeywell Turbo Technologies is a leading automotive turbocharger developer, supplying technology solutions to nearly every major automaker and truck manufacturer in the world. Honeywell Friction Materials is a leading global automotive supplier of braking components. Honeywell Transportation Systems enhances vehicle performance, efficiency and appearance through state-of-the-art technologies, world-class brands, and global solutions tailored for its automotive customers around the world
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.
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.
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