Latest news with #UOP
Yahoo
22-05-2025
- Business
- Yahoo
HONEYWELL TO ACQUIRE JOHNSON MATTHEY'S CATALYST TECHNOLOGIES BUSINESS, EXPANDING PORTFOLIO OF LEADING CATALYST AND PROCESS TECHNOLOGIES
Unlocks strategic growth by increasing Honeywell's installed base and creating a more integrated offering across catalyst and process technologies Expands Honeywell UOP's capabilities with addition of significant installed base across refining, petrochemical and renewable fuels Enhances Honeywell's existing catalyst portfolio with complementary offerings and grows renewable fuels capabilities Anticipated synergies with both UOP and Honeywell Process Solutions businesses, benefiting from Honeywell's leading aftermarket capabilities Expected to be accretive to Honeywell's adjusted EPS in the first full year of ownership and to add attractive high growth vectors with runway for material cost synergies CHARLOTTE, N.C., May 22, 2025 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced that it has agreed to acquire Johnson Matthey's Catalyst Technologies business segment for £1.8 billion in an all-cash transaction, representing approximately 11x estimated 2025 EBITDA, inclusive of tax benefits and run-rate cost synergies. The combination of Johnson Matthey's Catalyst Technologies business with Honeywell's Energy and Sustainability Solutions (ESS) business segment is expected to add attractive high growth vectors to the portfolio and drive significant additional benefits through cost synergies. Johnson Matthey's Catalyst Technologies' business model complements Honeywell's existing UOP business of selling catalyst and process technologies and expands its installed base across refining and petrochemical catalysts. In addition, with an expanded portfolio, Honeywell will for the first time be able to offer customers a comprehensive solution for the production of lower emission, critical fuels including sustainable methanol, sustainable aviation fuel (SAF), blue hydrogen and blue ammonia, which enhance energy security and reduce emissions. The resulting offerings will provide licensed technology, engineering, services and catalysts to convert hydrocarbon and renewable feedstocks to high-value end products. "The acquisition of Johnson Matthey's Catalyst Technologies business broadens Honeywell's role as a world-class technology provider of critical energy needed to drive growth into the future – further strengthening our model of combining process technologies and process automation," said Vimal Kapur, Chairman and CEO of Honeywell. "As demand for diversified sources of energy continues accelerating, we will better enable Honeywell to offer the innovation our customers need." Johnson Matthey's Catalyst Technologies business segment is a leading provider of catalyst manufacturing and process technology licensing. It has approximately 1,900 employees and is headquartered in London, United Kingdom, with sites in the U.S., Europe and India. "As we continue to expand and evolve our ESS portfolio, acquiring Johnson Matthey's Catalyst Technologies business will provide our customers a comprehensive and cost-effective approach to transition their businesses to high-value products with lower emissions," said Ken West, President and CEO of Honeywell's ESS segment. "Together, we will be able to create an integrated solution while also diversifying our UOP projects and service offerings to help our customers around the world continue innovating and driving energy security for the future." The acquisition is expected to be accretive to earnings in the first year and will add attractive high growth vectors to Honeywell's ESS business. The acquisition follows Honeywell's announcement of the planned spin off of its Aerospace Technologies business along with the planned spin off of its Advanced Materials business, which will result in three publicly listed industry leaders with distinct strategies and growth drivers. Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio, including approximately $11 billion of accretive acquisitions recently closed or announced: the Access Solutions business from Carrier Global, Civitanavi Systems, CAES Systems, the LNG business from Air Products, and Sundyne. In addition, Honeywell entered into an agreement to divest its Personal Protective Equipment business, which is expected to close in Q2 2025. Honeywell remains on pace to exceed its commitment to deploy at least $25 billion toward high-return capital expenditures, dividends, opportunistic share purchases and accretive acquisitions through 2025. Honeywell's acquisition of Johnson Matthey's Catalyst Technologies business segment is expected to close by 1H 2026, subject to customary closing conditions, including receipt of certain regulatory approvals. About HoneywellHoneywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. This release references certain non-GAAP measures, including: Segment margin, which is defined as segment profit divided by net sales; segment profit, on an overall Honeywell basis, is defined as operating income, excluding stock compensation expense, pension and other postretirement service costs, amortization of acquisition-related intangibles, certain acquisition-related costs, and repositioning and other charges. Adjusted earnings per share, which is defined as diluted earning per share adjusted to exclude pension mark-to-market expense, amortization of acquisition-related intangibles, certain acquisition-related costs, and other items as described in reconciliations provided when we disclose adjusted earnings per share; and EBITDA, which we define as earnings before tax, depreciation and amortization. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating trends. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitations of these non-GAAP financial measures are that they exclude significant expenses and income that are required by GAAP to be recognized in the consolidated financials statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Contacts:Media Investor Relations Stacey Jones Sean Meakim (980) 378-6258 704) 627-6200 View original content to download multimedia: SOURCE Honeywell Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
20-03-2025
- Politics
- CBS News
Protest unfolds on University of Pacific campus outside conservative event
STOCKTON – There was controversy outside of a conservative political event held on the University of the Pacific campus on Wednesday where protestors clashed with campus police. The event, "The Truth About Transgenderism," featured Pastor Junsun Yoo who spoke about trans issues, was hosted by the UOP chapter of Turning Point USA, a nonprofit organization that advocates for conservative politics on high school, college, and university campuses. A group of students and the San Joaquin County Pride Center called on the university to cancel the event calling it an "Anti-Trans" event. In a statement to CBS13, a university spokesperson confirmed the event was not university-sanctioned, but instead, a registered student organization event. As such, the university only provided the event space and audio/visual capabilities, but no other university funds. Turning Point event attendees were required to register before the event for access inside the theater. Protestors were set up by 6 p.m., ahead of the 6:30 p.m. start time, with signs in support of trans rights. A designated area to protest was set up with fencing outside of the theater, however, some protestors opted to stand on the grass outside of the gate barricades. In their attempts to move the 120 protestors, campus police responded by pushing back on protestors and attempting to remove a large sign being held by protestors. In total, a university spokesperson confirmed to CBS13 that there were 139 reported attendees. However, not all of those attendees were in support of the speaker's message. CBS13 witnessed multiple exchanges during the question and answer portion of the event where speakers were not in support of the event messaging. At one point, power went out inside the venue cutting audio and some of the lights. The Q&A portion of the event continued, without microphones, until power was restored a few minutes later. UOP's spokesperson told CBS13 the university is investigating the cause of the power outage. At the same time, across campus, the LGBTQ+ Summit "There's More to Us," was held. This was hosted by UOP's Center for Identity and Inclusion. There were 150 people who attended including students, staff and faculty. "Sometimes when things like this come up people need somewhere to go, so we are providing that space for them through this event and the center in general," said Yvette Quintana, the assistant director of the center. The summit was an event that students had been requesting, according to Quintana, but with the TPUSA event on the calendar, she said they fast-tracked planning for the same day. In a statement shared after the event, the university shared, "The community successfully engaged in dialog, and we are proud of our community and our students for tackling difficult issues."
CBS News
04-02-2025
- Health
- CBS News
University of the Pacific becomes first in nation to offer 4-year music therapy degree
STOCKTON -- Music is often considered the universal language, and at the University of the Pacific in Stockton, it's also a method of healing. After 85 years of offering the course, the University of the Pacific is now the first college in the nation to offer a four-year degree versus five. This lowers the barriers for more students to pursue this unique degree without worrying about paying for an extra year of classes or internships. Program Director and Professor, Dr. Eric Waldon is a graduate of the program he now oversees. "So, we worked on condensing some of those courses, eliminating some of the other ones, leaving enough space so that a student could actually use their entire last year for their internship," Waldon said it is a great way to ensure more students can enroll and graduate. In order to appreciate the changes being made on campus, it's important to understand how music therapy is making a difference in the lives of a wide variety of patients -- such as people diagnosed from Alzheimer's to Parkinson's. "To alleviate things like pain or help with rehabilitation, sometimes it's easier for people to communicate musically, than with words," Waldon said. A dedicated music therapy room inside Sutter Children's Center in Sacramento is known as Sophie's Place. It's where patients like one-year-old Jesse Lee get to step inside and forget what they're enduring in the rooms of their hospital. Jesse's mother Anna says music therapy has made a significant difference in Jesse's treatment. "It's overwhelming, just getting to see him be himself, outside of his hospital room even when they come up to his room to play with him its very special," Lee said. Jesse is battling leukemia, diagnosed in August of 2023. His music therapist today, Brooke Osborne calls each time she gets to work with him, a blessing. "He's a fighter, through and through. I'll be the first one to say it, it's been a blessing getting to work with him," Osborne said. "Just to see the joy in his eyes and get to support that through music, what we get to do through music is just phenomenal." Osborne says music therapy for patients like Jesse can become an emotional lifeline, giving them the opportunity to express themselves and have an outlet to direct their emotions. It's what students inside music therapy classes at UOP are learning, especially knowing the significant impact it can have on the well-being of a patient. Studies show musical intervention has profound impacts on the brain. For example, it can evoke memories for Alzheimer's patients, it can improve voice and volume quality for someone suffering from Parkinson's, and it can even help someone relearn to walk. The beat and tempo of music can also help someone recovering from nerve damage. "Maybe one of their things they are working on is gait. Use things like tempo or speed to retrain walking so they can rehabilitate again," Waldon said. For senior Hasina Torres, she quickly learned when pursuing a degree in music therapy, every day is going to look different. Using her gift of music and being able to meet a patient's changing needs is one of the reasons she chose this as a degree. "It's just so special to be a part of this, being able to know what to do clinically and provide that to the patient is beyond words, you just feel so helpful in that moment," Torres said. She added she's so excited for the students who will be able to now pursue the degree in four years instead of five.
Shafaq News
31-01-2025
- Business
- Shafaq News
Iraq signs $2 billion deal for Kirkuk oil refinery
Shafaq News/ Iraqi officials signed a $2 billion deal to build an oil refinery in Kirkuk, officials said on Friday. Ali Hamadi, investment advisor to the Kirkuk governor, said the refinery would help address fuel shortages in the province. 'The project is valued at $2 billion and will take between two and three years to complete,' he told Shafaq News, adding that construction would begin after the project site is handed over. The refinery, designed to process 70,000 barrels per day (bpd) of refined oil products, will be built by Rania International Oil Company, with equipment supplied by US firm UOP. Jalal Haji Ahmed, head of Rania Energy and Oil, said the facility would be built to international standards. 'The refinery will use advanced, environmentally friendly technology.' According to officials, the project is part of the Iraqi Oil Ministry's plan to increase refining capacity, cut reliance on imports, and potentially export surplus products. Kirkuk Governor Rebwar Taha Mustafa said the refinery had received approvals from Prime Minister Mohammed Shia Al-Sudani and the Ministry of Oil. 'This is Kirkuk's first investment contract for a refinery. It will provide jobs and improve the local fuel supply,' he said on Thursday. In turn, oil expert Ali Khalil said Kirkuk, a major oil-producing province, has long needed additional refining capacity. The existing Kirkuk refinery can process 60,000 bpd but lacks modern hydrocracking and distillation units. 'A new refinery will improve fuel quality and reduce dependence on refineries in Baiji and elsewhere,' Khalil said. Iraq, which holds the world's fifth-largest oil reserves, announced plans in 2017 to build a new Kirkuk refinery and increase oil production in the region to over one million bpd. The government has sought investment from foreign firms to expand output.
