Conoco Signs Agreement with Honeywell

09 February 2001

The Industrial Control business of Honeywell has signed a 10-year, $17.5 million agreement with Conoco Inc to provide automation functionality for Conoco's new carbon fiber plant in Ponca City, Oklahoma. Under the agreement, Honeywell will utilize its distributed control technology, batch processing capability, and business applications to assist Conoco in the production and operation of its new carbon fiber business. "Carbon Fibers represents a tremendous growth opportunity for Conoco. We want to focus our resources on commercializing this new process and executing our business strategies," said James C. Taylor, General Manager, Carbon Fibers. "This agreement allows us to concentrate on our core competency - carbon fiber technology and its applications - and feel secure that Honeywell will apply the latest automation soluions to optimize the productivity and performance of our business." "Conoco became a Strategic Corporate Account with Honeywell in 1999 by signing a global alliance agreement, and expanded that relationship to provide automation functionality for Conoco's carbon fiber business under a long-term, value-based service agreement," said John Weber, President of Honeywell Industrial Control. This collaborative approach to automation mitigates risk and accelerates the economic benefits of automation by overcoming resource, technology, and capital constraints associated with traditional approaches to automation.

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