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News Releases
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FURTHER COST PRESSURE ON RAW MATERIALS: HONEYWELL INCREASES PRICES OF ITS
GENETRON© REFRIGERANTS
| AMSTERDAM, Netherlands, June 18, 2008. Honeywell Fluorine Products Europe
B.V. announced today a further price increase for its GENETRON® refrigerants in
the Europe, Middle East, and Africa region. Depending on market and product,
prices for HCFCs and HFCs will increase up to 10 % as of July 1, 2008, or as
agreements permit. |
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| Honeywell’s Managing Director, René Mueller, cited the unprecedented rise
in raw material cost, in particular for sulphur and sulphuric acid as the main
driver: “The explosion of our raw materials cost has made the current price
level globally unsustainable. The sulphuric acid price alone has more than
tripled this year, and it will continue to rise.” |
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| Honeywell Specialty Materials, based in Morristown, N.J., is a $4.9
billion, global leader in providing customers with high-performance specialty
materials, including fluorine products; specialty films and additives; advanced
fibers and composites; intermediates; specialty chemicals; electronic materials
and chemicals; and technologies and materials for petroleum refining. |
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| 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. |
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| This report contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or developments that we or
our management intend, expect, project, believe or anticipate will or may occur
in the future are forward-looking statements. Forward-looking statements are
based on management’s assumptions and assessments in light of past experience
and trends, current conditions, expected future developments and other relevant
factors. They are not guarantees of future performance, and actual results,
developments and business decisions may differ from those envisaged by our
forward-looking statements. Our forward-looking statements are also subject to
risks and uncertainties, which can affect our performance in both the near- and
long-term. 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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| Media Contact: |
Sabine Chmielewski
+49 (0) 5137 -999-9411
sabine.chmielewski@.honeywell.com |
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