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News Releases
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HONEYWELL ANNOUNCES PRICE INCREASES ON GENETRON© REFRIGERANTS IN EUROPE
| AMSTERDAM, Netherlands, February 8, 2008. Honeywell Fluorine Products
Europe B.V. announced today a price increase for its GENETRON® refrigerants in
Europe. All prices for bulk and packaged deliveries will increase by 7 percent
as of March 1st, and subsequently by 7 percent as of April 1st, 2008, or as
soon as agreement permits. There will be no pre-buy period. |
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| The price increases are necessary to offset the increases in costs of raw
material such as sulphur and hydrofluoric acid, energy and freight that the
Fluorine Business is incurring from its suppliers. |
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| Honeywell cited the recent and unprecedented rise in the cost of sulfur as
one of the reason for the price change. Global sulfuric acid prices have risen
by more than 500 percent in recent months partly due to an increased demand for
agricultural fertilizer, as well as corn-based ethanol and other products.
Sulfuric acid also is used in metals processing, where demand has been boosted
by new ore leaching processes in response to the recent sharp increase in
metals prices. Sulfur is a key raw material used to produce hydrofluoric acid
(HF), which is used to manufacture products across the industries. |
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| Honeywell Fluorine Products Europe B.V. is a fully owned subsidiary of
Honeywell International Inc. Honeywell International Inc. is a $36 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 http://www.honeywell.com. |
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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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| 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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