Press Release


Honeywell and Hindustan Aeronautics Ltd. Finalize Contract for TPE331 Engine Component Production

EBACE, GENEVA, May 20, 2008 -- Honeywell (NYSE:HON), through its Swiss subsidiary Honeywell International Sarl, and Hindustan Aeronautics Ltd. (HAL) have finalized an agreement for Hindustan to manufacture commercial Honeywell TPE331 engines, engine components and kits for Honeywell.

“The agreement is an expansion of the Honeywell and Hindustan longstanding relationship dating to 1983, when Hindustan Aeronautics first began licensed production of TPE331-5 engines,” said Rob Wilson, President, Business and General Aviation. “Hindustan Aeronautics manufacturing capabilities in the TPE331 family enable further global reach for the most fuel-efficient and reliable turboprop engine in the industry. The engines will be used on a broad range of aviation applications.”

Hindustan Aeronautics has manufactured more than 200 TPE331-5 engines for use by the Indian military services, including the national Coast Guard, Navy and Air Force. The company also provides full maintenance and service on the aircraft engines at its facilities in Bangalore, India.

The commercial agreement builds on that work by expanding into commercial engine manufacture of the latest generation of TPE engines for Honeywell’s Business and General Aviation business.

Delivery of components to Honeywell will begin in 2009, reaching full volume capacity in 2012.

Honeywell International is a $37 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 and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com.

Based in Phoenix, Honeywell’s $12 billion aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

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 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.

Media Contacts:
Bill Reavis
602-365-2055
bill.reavis@honeywell.com

Cathy Gedvilas
602 365-5930
cathy.gedvilas@honeywell.com

 

Media Relations Contact

Bill Reavis
602-365-2055
bill.reavis@honeywell.com

Cathy Gedvilas
602 365-5930
cathy.gedvilas@honeywell.com